Paper Solutions
UPM has signed an agreement to sell 100% of the shares of its Austrian subsidiary UPM Kymmene-Austria GmbH to the Heinzel Group, a leading pulp, packaging and paper producer and trader in Central and Eastern Europe.
The transaction comprises the UPM Steyrermühl site with approximately 400 employees, including the newsprint papermachine with an annual capacity of 320,000 tonnes and the Steyrermühl sawmill operations with an annual timber capacity of 370,000 cubic metres.
The parties have agreed not to disclose the value of the deal. Closing of the transaction and end of newsprint production at UPM Steyrermühl are planned for the end of 2023.
Heinzel is planning to take over responsibility for the mill after closing. Until then, all operations continue as is.
UPM will remain committed to the newsprint business with production at its Schongau, Ettringen, Hürth and Jämsänkoski mills.
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