UPM has signed an agreement to sell 100% of the shares of its Austrian subsidiary UPM Kymmene-Austria GmbH to the HEINZEL GROUP.
The transaction comprises the UPM Steyrermühl site with approximately 400 employees, including the newsprint paper machine with an annual capacity of 320,000 tonnes and the Steyrermühl sawmill operations with an annual timber capacity of 370,000 cubic meters. The parties have agreed not to disclose the value of the deal.
UPM and Heinzel Group will now engage in deeper discussions on specific technical and organisational aspects of the site to plan the future of the mill. Heinzel plans to operate the Steyrermühl site outside of graphic papers together with its Laakirchen mill, which is located in the same area. Heinzel is considering the production of packaging materials to complement their existing product portfolio. The concrete plans for the repurposing of the new integrate will be communicated by Heinzel as soon as these have been concluded.