Forestry companies feel biofuel is way forward
03-SEP-2008
Forestry companies in Europe and North America are increasingly leaning towards a trend of producing biofuel. Waste wood, a by-product of the forestry industry, can be used to make biofuel that can in turn be used by the paper making industry. This is seen as a profitable venture as it makes use of wood which would not otherwise have been used and saves companies money in the face of sky-rocketing electricity costs.
The world's top magazine paper-making business UPM-Kymmene has been investing in energy production for years. Its paper plants in Finland are completely self-sufficient and 70% of its global operations are, too.
'We wouldn't be there if we didn't see good profits out of that kind of business,"' said Jussi Pesonen, CEO of UPM-Kymmene. 'Bioenergy is well integrated into the paper and pulp mills, where you can combine biomass coming from forests and mass production.'
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