Helsinki, Finland 14 August 2012 -- UPM has completed the sale of its closed Papierfabrik Albbruck GmbH to the German Karl Group. UPM permanently ceased graphic paper production at the mill situated in Baden-Württemberg, Germany in January 2012.
The Karl Group, experienced in developing industrial sites, is planning to establish new businesses on the premises of the former paper mill within the next 3 to 5 years in agreement with the local authorities.
“Our aim was to identify development ideas and business opportunities for the site“, says Hartmut Wurster, who represented UPM in the negotiations. “The sale to Karl Group opens up new economic perspectives for the whole region“. Meanwhile, more than 200 former paper mill employees have found new jobs supported by the transfer company funded by UPM.
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 22 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 13,000 people. In 2011, the business group’s net sales amounted to EUR 7.2 billion. To learn more, visit: www.upmpaper.com