World important news by Kelsie

* Uncertainty continuing in pulp, fine paper markets* Forest sector shares fall (Adds detail, background)By Jussi RosendahlHELSINKI, Oct 14 (Reuters) - Finnish forest group UPM-Kymmene cut its full-year profit outlook after delivering less pulp and fine paper in the third quarter than expected, and warned of ongoing uncertainty in pulp and fine paper markets.Shares in the company fell 7.1 percent by 0937 GMT, knocking down the entire sector. Finnish rival Stora Enso’s stock fell 5.7 percent.The world’s top graphic paper maker said it now expected its 2011 operating profit to fall from last year. It had previously forecast profit improvement.”Fine paper demand continued to be low in Europe and deliveries did not recover in September from the seasonal summer slowdown,” the company said in a statement.”Following the lower than expected Q3 results and the continuing uncertainty in pulp and fine paper markets, UPM’s full-year 2011 operating profit is expected to be somewhat lower than last year,” it added.The company is the latest in a series of Finnish companies to warn of weaker-than-expected business conditions, but the European paper industry is seen as particularly vulnerable.UPM and its peers have been struggling with falling demand, overcapacity and the rise of Chinese rivals. Sappi , the world’s largest fine paper maker, said earlier this month it expected the fourth quarter to be weaker than expected.UPM said its EBITDA for the July-September period stood at about 330 million euros ($452 million), down from 384 million euros a year ago. That was also weaker than the 360 million euro average forecast by analysts according to Thomson Reuters Starmine.UPM’s third-quarter sales of 2.6 billion euros, however, were roughly in line with analysts’ expectations.($1 = 0.730 Euros)

* NatureWorks eyes 2nd bio plastic plant in Thailand - CEOBy Pisit Changplayngam and Ploy Ten KateBANGKOK, Oct 12 (Reuters) - Thailand’s largest olefins maker, PTT Chemical Pcl (PTTCH) , said on Wednesday it would buy a 50 percent stake in NatureWorks LLC, the world’s largest polylactic acid (PLA) manufacturer, in a deal worth $150 million.PTT Chemical’s investment in NatureWorks, until now wholly owned by U.S.-based agribusiness giant Cargill Inc. , is subject to regulatory approval.PTTGC International (USA) Inc., 100 percent owned by PTT Chemical International Private Ltd, itself a wholly owned subsidiary of PTTCH, will take the stake.Cargill Inc. will retain the remaining 50 percent. According to NatureWorks’ website, Cargill was advised on this transaction by J.P. Morgan Securities Inc.Veerasak Kositpaisal, president and chief executive of PTT Chemical, expected to start booking gains from the investments in NatureWorks from 2012.”The purchase would give us an opportunity to focus more on producing bio-based products,” Veerasak said, citing Thailand as a strategic location for bioplastic manufacturing due to its plentiful sugarcane and cassava supplies.NatureWorks supplies a broad family of renewable Ingeo biopolymers made from plants to plastics and fibre markets worldwide.Marc Verbruggen, president and chief executive officer of NatureWorks, said the company and PTTCH were studying a plan to build a second production plant worth about $200 million in Thailand, expecting the new plant to come online in 2015.”PTT Chemical’s investment supports NatureWorks intent to globalise its Ingeo manufacturing capability by building a new production facility in Thailand, supporting our Asian customer base and delivering on our commitment to renewable feedstock diversification,” Verbruggen said.Further details were expected to be announced later this year, its website said.Nebraska-based NatureWorks has estimated annual capacity of 140,000 tonnes. In recent years it has seen steady 25-30 percent increases in annual product demand.PTT Chemical is keen to play a role in pioneering a world-scale bioplastics industry with the aim of becoming a global leader by 2020 and helping Thailand become an Asian bio-hub.PTT Chemical shares, valued at $5.2 billion, were suspended from trading on Oct. 11, pending a merger with PTT Aromatics and Refining . Shares in the merged firm will start trading on Oct. 21.

EGP’s North American unit, which owns 51 percent of the project, will develop it together with its partner TradeWind Energy. The wind farm will help avoid the annual emission of over 470,000 tonnes of CO2.