Karl Unternehmensgruppe to Acquire UPM's Closed Albbruck Mill in GermanyPage Content
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The Karl Unternehmensgruppe, Innernzell, Germany, has agreed to purchase the Papierfabrik Albbruck GmbH mill in Germany from UPM, Finland. The closing of the deal is set for the beginning of August. The parties agreed not to disclose the value of the transaction.
UPM closed the unprofitable Albbruck paper mill in Baden-Württemberg, Germany, this past January and permanently ceased graphic paper production at the site. Since then, UPM has actively participated in roundtable discussions about the possible future use of the mill premises.
"The aim of the forum was to find development ideas and business opportunities for the site. This is now possible by selling the mill to the Karl Unternehmensgruppe," explains Hartmut Wurster, EVP, UPM. "We are glad to have found a solid partner in Karl Unternehmensgruppe, which already has experience in the field of re-allocation of industrial companies. This provides new opportunities to the economy of the whole region," says Wurster.
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 Paper has 23 paper mills in Finland, Germany, the U.K., France, Austria, China, and the U.S. It employs almost 14,000 people. In 2011, the business group's net sales amounted to EUR 7.2 billion.
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