{
    "success": true,
    "data": {
        "id": 1415473,
        "msgid": "upm-abandons-ri-alliance-1447893297",
        "date": "1999-09-18 00:00:00",
        "title": "UPM abandons RI alliance",
        "author": null,
        "source": "REUTERS",
        "tags": null,
        "topic": null,
        "summary": "UPM abandons RI alliance HELSINKI (Reuters): Finnish paper maker UPM-Kymmene pulled the plug on Thursday on its planned alliance with Indonesian partner in an apparent reaction to the upheaval in East Timor. \"It would have meant taking more Indonesia-risk, this was the key issue,\" UPM's Executive Vice President Martin Granholm told Reuters.",
        "content": "<p>UPM abandons RI alliance<\/p>\n<p>HELSINKI (Reuters): Finnish paper maker UPM-Kymmene pulled the<br>\nplug on Thursday on its planned alliance with Indonesian partner<br>\nin an apparent reaction to the upheaval in East Timor.<\/p>\n<p>\"It would have meant taking more Indonesia-risk, this was the<br>\nkey issue,\" UPM's Executive Vice President Martin Granholm told<br>\nReuters.<\/p>\n<p>UPM said it and APRIL (Asia Pacific Resources Holdings) had<br>\nagreed to abandon a plan to swap fine paper assets because they<br>\ncould not reach an agreement on how to redraw their 1997 deal<br>\nthat fell through because of the Asian economic crisis.<\/p>\n<p>APRIl is the owner of PT Riau Andalan Pulp &amp; Paper (Riaupulp)<br>\nof Indonesia, which operates a 850,000 tons per year BHK pulp<br>\nmill.<\/p>\n<p>Granholm said the talks failed as any acceptable solution<br>\nwould have increased UPM's exposure to Indonesia.<br>\nthird paper mill in time to meet the conditions for the deal.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/upm-abandons-ri-alliance-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}