UPM-Kymmene was formed by the merger of Kymmene Corporation with Repola Oy and its subsidiary United Paper Mills Ltd in 1996.

[6] UPM is the owner and maintainer of the Verla mill, which has been a museum since 1972 and a UNESCO World Heritage Site since 1996.

[7] The company's oldest mill was Papeteries de Docelles located in northeastern France, which produced traditional handpaper at the end of 15th century.

It is probable that the griffin was chosen as the company logo because it represents a guardian of the northern forests.

[13] The former premises of the Kajaani mill were turned into a business park called Renforsin Ranta.

In July 2019, UPM announced that it will invest US$2.7 billion in a eucalyptus pulp mill near Paso de los Toros in central Uruguay.

[18] In January 2020, UPM announced that it will invest EUR 550 million in an industrial scale biorefinery to convert solid wood into next-generation biochemicals: bio-monoethylene glycol (BioMEG) and lignin-based renewable functional fillers.

These business areas are connected with a common idea: to create value from renewable and recyclable raw materials by synthesizing them with know-how and technology.

[19] In July 2019 UPM announced that it will invest US$2.7 billion in a eucalyptus pulp mill near Paso de los Toros in central Uruguay.

[19] UPM has 13 paper mills in Finland, Germany, Great Britain, France, Austria and the United States.

UPM is acquiring all kinds of wood and uses it to produce pulp, paper, plywood, sawn timber and energy.

UPM's production plants are located in Austria, China, Estonia, Finland, France, Germany, Malaysia, Poland, UK, Uruguay and USA.

The mill produces bleached hardwood kraft pulp (BHKP) from eucalyptus and renewable energy in their recovery boilers and provides CO2-neutral biomass-based electricity for the Uruguayan markets.

In February 2011, UPM announced a plan to build a second nursery in Uruguay to secure the availability of high-quality seedlings and seed material.

The production concepts are based on non-food raw materials and they result in a significant reduction of greenhouse gas emissions.

[28][29] UPM has invested in a biorefinery producing biofuels from crude tall oil in Lappeenranta, Finland.

The biorefinery produces annually approximately 130,000 tonnes of advanced second generation biodiesel for transport.

[30] Development is currently ongoing, with the aim of expanding the biofuels business with new types of technology concepts and biomass-based raw materials.

In January 2021, UPM started the basic engineering phase of a potential new biorefinery, with site option assessment primarily in two locations: Kotka, Finland and Rotterdam, the Netherlands.

The next generation biochemicals refinery in Leuna, Germany is scheduled to start production by the end of 2023.

The wood-based biochemicals replace fossil-based raw materials in various applications such as textiles, PET bottles, packaging, cosmetics, pharmaceuticals, detergents, rubbers and resins.

As an example, UPM develops wood-based recyclable PET bottles in co-operation with the Coca-Cola Company.

The Finnish furniture manufacturer Isku has introduced the new Kaava chair which demonstrates the capabilities of UPM Grada Plywood.

[31] UPM ProFi composite is a Biofore material that combines the characteristics of cellulose fibres and plastic.

Manufactured mainly from recycled raw material, the composite is suitable for use in patios, terraces, piers and playgrounds.

UPM ProFi has been used in the manufacture of a pedestrian walkway in the previously historic city of Ghent, Belgium.

[34] The Finnish company, MySoda, designs and manufactures the first-ever sparkling water makers made of wood-based biocomposite, UPM Formi EcoAce.

The biocomposite is made using certified renewable fibres and polymers derived from UPM BioVerno naphtha.