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  UPM Finalizes Sale of Steyrerm¨¹hl Newsprint Mill in Austria to Heinzel Group
[Jan 4, 2024]

Heinzel Group is converting one of the newsprint machines at Steyrerm¨¹hl mill for the production of brown and white low grammage kraft papers, which will be marketed under Heinzel's STARKRAFT brand.

UPM has completed the sale of Steyrerm¨¹hl mill in Austria and all related assets to Heinzel Group, thereby closing the transaction announced in June 2022.

UPM Steyrerm¨¹hl was founded in 1868 and produced newsprint paper until the end of Q2 2023. Production capacity during the last years was 320,000 tonnes annually. The site also includes a sawmill with an annual timber capacity of 370,000 cubic meters.

"Throughout the whole process we collaborated closely with Heinzel to ensure a smooth transition," said Massimo Reynaudo, UPM President and CEO. "The closing of the newspaper production in Steyrerm¨¹hl ended a very successful chapter of UPM Communication Papers' paper production history in Austria and now the Steyrerm¨¹hl mill also has a new owner after the completion of the sale.

"I want to thank our colleagues in Steyrerm¨¹hl for their committed and professional work over the past century and a half. I am convinced that the upcoming transformation of the mill will provide good prospects for both the people at Steyrerm¨¹hl and for the region as such," Reynaudo added.

UPM said that it will remain committed to the newsprint business as one of the industry's leading producers, continuing newsprint production at its Schongau, Ettringen, H¨¹rth and Jämsänkoski mills.

UPM will also remain committed to the Austrian newsprint market, serving customers from its remaining newsprint mills.

:  UPM