Finnish forest-wood-paper group UPM has concluded the sale of Tilhill Forestry Ltd to British sawmilling business BSW Timber Ltd. The transaction does not have an effect on the employment contracts of the employees of Tilhill Forestry, it is claimed. Despite the sale, UPM emphasizes it will maintain close relationship with Tilhill Forestry and continue sourcing wood and biomass for its Caledonian and Shotton mills in the UK there. For BSW Timber, the move is seen as a step towards solidifying its raw material base.