(UPM, Augsburg, 4 July 2024 at 13:00 CET) – UPM has signed an agreement on the sale of its 50% stake in the recovered paper sorting plant ASD Altpapier Sortierung Dachau GmbH in Germany, (“ASD”) to ROWE GmbH, a company specialized in services, processing and logistics in the field of recovered paper.
ROWE GmbH held already the other 50% stake in ASD and owns with completion of the
transaction 100% of the shares in ASD. The parties have agreed not to disclose the purchase price. The transaction will have no impact on the employees of ASD.
“We are pleased to sell ASD sorting operations to ROWE as they have long-term orientation to recovered paper lifecycle management. ROWE, as part of Veolia, has a high level of expertise in collecting, sorting and handling recovered paper. In the recovered paper supply market, there are still plenty of room for development and optimization, and ASD together with ROWE and Veolia is in a great position to capture this market opportunity,” says Teija Konttori, Director Fibre Sourcing at UPM.
"We thank UPM for the trusting cooperation in recent years and are very pleased with the acquisition of the shares," explains Guido Adomßent, Chief Operating Officer of Veolia Umweltservice. "We will build on this successful partnership also after the full acquisition of ASD."
For further information please contact:
Teija Konttori, Director UPM Sourcing, e-mail: teija.konttori@upm.com
UPM Communication Papers
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We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Fibres, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility, we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 16,600 people worldwide and our annual sales are approximately EUR 10.5 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com
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