(UPM, Helsinki, 25 May 2012) – UPM and Karl Unternehmensgruppe, Innernzell, Germany have reached an agreement on the sale of the Papierfabrik Albbruck GmbH. The closing of the deal is planned to be effective by the beginning of August 2012. The contract parties have agreed not to disclose the value of the transaction.
UPM closed the unprofitable Albbruck paper mill in Baden-Württemberg, Germany in January 2012 and permanently ceased graphic paper production at the site. Since then UPM has actively participated in round table discussions about the possible future use of the mill premises.
“The aim of the forum was to find development ideas and business opportunities for the site. This is now possible by selling the mill to the Karl Unternehmensgruppe“, explains Hartmut Wurster, Executive Vice President, UPM. “We are glad to have found a solid partner in Karl Unternehmensgruppe, which already has experience in the field of re-allocation of industrial companies. This provides new opportunities to the economy of the whole region,” says Wurster.
For further information please contact:
Hartmut Wurster , Executive Vice President, UPM, tel. +49 821 3109 264
Notes for the editors:
UPM leads the integration of bio and forest industries into a new, sustainable and innovation-driven future. Our products are made of renewable raw materials and are recyclable. UPM consists of three Business Groups: Energy and pulp, Paper, and Engineered materials. The Group employs around 24,000 people and it has production plants in 16 countries. UPM's annual sales exceed EUR 10 billion. UPM's shares are listed on the Helsinki stock exchange. UPM – The Biofore Company – www.upm.com
UPM has 23 modern and sustainable paper mills in Finland, Germany, the United Kingdom, France, Austria, China and the United States. Many of them are large recycling centres and bioenergy producers, as well as paper manufacturers. UPM Paper employs almost 14,000 people. In 2011, the business group’s net sales amounted to EUR 7.2 billion. To learn more, visit: www.upmpaper.com