Myllykoski, Finland, 13 July 2011 -- The European Commission has today unconditionally approved a transaction whereby the owners of Myllykoski Group and Rhein Papier GmbH sell the companies to UPM-Kymmene Oyj.
The target for the final closing of the transaction is in late July to early August. The companies announced the transaction on 21 December 2010.
The transaction includes all Myllykoski and Rhein Papier entities and their operations in Finland, Germany, and the United States, as well as the sales network. The transaction also includes Myllykoski Corporation’s 0.8 % ownership of the Finnish energy company Pohjolan Voima Oy.
Myllykoski is a family-owned international paper group with manufacturing in Finland, Germany and the United States and sales offices around the world. The Finnish roots of the parent company go back to 1892. Myllykoski products consist of wood-containing uncoated and coated publication papers, including newsprint. Customers include publishers, printers, and retailers worldwide.
Myllykoski is among the largest publication paper producers in the world.
Myllykoski operates seven paper mills with a total annual capacity of close to 3 million metric tons, including the alliance partner Rhein Papier GmbH. Myllykoski employs 2500 people.
Myllykoski is known as a pioneer in using new technologies as well as recycled fibers for paper production. Myllykoski’s vision is to be the premier publication paper brand recognized for creativity and positive business solutions.