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UPM Sells its Steyrermühl Site to the HEINZEL GROUP

UPM has signed an settlement to promote 100% of the shares of its Austrian subsidiary UPM Kymmene-Austria GmbH to the HEINZEL GROUP, a number one pulp, packaging and paper producer and dealer in Central and Eastern Europe.

The transaction contains the UPM Steyrermühl web site with approx. 400 workers, together with the newsprint paper machine with an annual capability of 320,000 tonnes and the Steyrermühl sawmill operations with an annual timber capability of 370,000 cubic meters. The events have agreed not to disclose the worth of the deal.

Closing of the transaction and finish of newsprint manufacturing at UPM Steyrermühl are deliberate for the finish of 2023. HEINZEL is planning to take over duty for the mill after closing. Until then, all operations proceed as is.

UPM and HEINZEL GROUP will now interact in deeper discussions on particular technical and organizational points of the web site to plan the way forward for the mill. HEINZEL plans to function the UPM Steyrermühl web site exterior of graphic papers as an combine along with its Laakirchen mill, which is positioned in the identical communicaty. HEINZEL is contemplating the manufacturing of packaging supplies to complement their current product portfolio. The concrete plans for the repurposing of the new combine can be communicated by HEINZEL as quickly as these have been concluded.

“The settlement advantages each UPM and HEINZEL and helps the growth of their companies in keeping with market wants. This settlement allows UPM to adapt its newsprint paper manufacturing to the long-term market growth whereas leveraging the excessive worth of the Steyrermühl web site. This will strengthen our market place whereas enhancing our monetary efficiency,” says Massimo Reynaudo, Executive Vice President of UPM Communication Papers.

“We are very happy with the settlement. HEINZEL is a stable and profitable participant in the business and can present a long-term future for the Steyrermühl web site. We will proceed to collaborate carefully with HEINZEL to guarantee a clean transition and allow the strategic growth of the web site as a part of an combine operated by HEINZEL,” Reynaudo continues.

UPM will stay dedicated to the newsprint enterprise as one in all the business’s main producers, persevering with newsprint manufacturing at its Schongau, Ettringen, Hürth and Jämsänkoski mills. UPM may even stay dedicated to the Austrian newsprint market, serving prospects from its remaining newsprint mills.

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