UPM Sells Kaipola Mill Site to Real Estate Development Firm

Kaipola Green Port plans to develop the Kaipola mill site for manufacturing and industrial logistics purposes.

Oct. 19. 2021 - UPM has sold the Kaipola mill site in Jämsä, Finland, to Kaipola Green Port Oy. Kaipola Green Port is a real estate development company owned by Finnish private citizens.

Terms of the deal were not disclosed.

The sale consists of the real estate, and no personnel was transferred. Kaipola Green Port plans to develop the mill site for manufacturing and industrial logistics purposes.

UPM closed the Kaipola paper mill permanently in early 2021.

Prior to its closure, the Kaipola mill and its three paper machines had the capacity to produce 720,000 tonnes per year of graphic paper - 450,000 tonnes of newsprint and 270,000 tonnes of coated mechanical paper.

In addition to Kaipola, UPM has during the past 12 months sold the Säynätsalo plywood mill in Jyväskylä, Finland, the Shotton paper mill in Wales, United Kingdom, and the Chapelle Darblay paper mill in Grand-Couronne, France.

Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Paper ENA and UPM Plywood. To learn more, visit: www.upm.com.

SOURCE: UPM