Mar 12 2009
UPM has sold its Ella Store Labels business to MariCap Group's Finnish affiliate MariSense Ltd. The parties have agreed not to disclose the sale price. Ella Store Labels's 15 employees at Ylöjärvi, Finland, will continue working for the business with the new owner, MariSense Ltd.
Ella Store Labels business develops and manufactures electronic price display solutions for retailers. The price displays based on electronic paper possess excellent optical capabilities and are easily readable due to their exceptional contrast. The paper-like price displays have been acclaimed by the retail chain and their customers. Price markings are always correct.
"Ella Store Labels is on its own field a highly competitive concept based on automised way of reacting to price change needs improving store efficiency. I am confident that MariSense's expertise and resources offer a good platform for Ella Store Labels's future success. UPM focuses on developing new businesses that are closer to its core business – such as biofuels, biochemicals, wood plastic composites and RFID tags," says Mr Hans Sohlström, Executive Vice President, Corporate Relations and Development, UPM.
According to MariSense's CEO, Mr Petteri Saarinen, Ella Store Labels business combines the technology innovations created via a large-scale product development and a substantial growth potential: "Retail trade's global change in pricing dynamics enables Ella Store Labels's rapid growth. I strongly believe that this business deal offers Ella Store Labels excellent opportunities to implement its global growth strategy as part of MariCap Group."