UPM is selling off its UPM Kymmene-Austria subsidiary to the Heinzel Group, a pulp, packaging and paper producer and trader in central and Eastern Europe.
The transaction comprises the UPM Steyrermuhl site that employs around 400 and includes a newsprint paper machine plus the Steyrermuhl sawmill operations. Heinzel plans to operate the UPM Steyrermuhl site outside of graphic papers together with its Laakirchen mill, which is located in the same area. The company is considering the production of packaging materials to complement its existing product portfolio.
Closing of the transaction and the end of newsprint production at the site are planned for the end of 2023.