Biofore Magazine 2022

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On the verge of something big It has been said that change happens gradually and then suddenly. UPM’s

transformation will take one of its longest strides forward in the comingmonths, says President and CEO Jussi Pesonen . O n the verge of something big – those are the words Pesonen uses to describe the company he runs. Firstly, that something big is Finland’s Olkiluoto nuclear power plant unit (OL3), which will increase UPM’s electricity production by almost 50% in one go at a time of exceptionally high market prices. Pulp production capacity will increase even more, by around 55%, when the Paso de los Toros pulp mill in Uruguay begins operations in early 2023. As he prepared to inaugurate the pulp terminal at the Port of Montevideo, Pesonen made no secret of his excitement, saying: “Paso de los Toros is an extremely well-managed project in very challenging circumstances, where the pandemic disrupted the logistics and was a big challenge on the factory site itself. Kudos to the project team.” The opening of a biochemicals refinery in Leuna, Germany is not far away either. In that instance, UPM will not only have more capacity, but a completely new business – unique even on a global scale. But what does the CEO think about the fact that the mainstream news is all about war, the energy crisis, recession, inflation and interest rates? And how does the Biofore strategy work in a world that was turned upside down in an instant?