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UPM opens consultation process for potential closure of its Chapelle newsprint mill while continuing the sales process

Investor news 28.1.2020 11:00 EET

Earlier, in September 2019, UPM announced the intention to sell its Chapelle newsprint mill in Grand-Couronne, France. It was communicated at the same time, that a process for the potential closure of the mill would be opened in case no credible offer would be received until mid-January 2020.

We have started the sales process in September and have been in continuous and substantial discussions with interested parties. While these discussions are still ongoing, we have not received binding offers by potential buyers of the mill to date.

Consequently, we informed employee representatives today of our intention to start the employee consultation processes for the potential closure of the site. These consultations are estimated to be concluded by end of Q2 2020 and will be conducted according to French legislation.

We will continue the sales process throughout the consultation process. We remain committed to selling the mill if we receive a suitable offer.   

The mill currently employs 236 people with an annual production capacity of 240.000 tonnes of newsprint paper.

For further information please contact:
UPM Communication Paper Stakeholder Relations, tel. +49 821 3109 225, paperinfo@upm.com

For information related to Chapelle, please contact: Jean Kubiak, General Manager, UPM Chapelle, through Pyksis: tel. +33 6 14 88 85 77 or +33 6 63 67 75 11

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com

About UPM Chapelle
UPM Chapelle manufactures newsprint papers with an annual capacity of 240,000 tonnes. Situated in Grand Couronne, France the mill currently employs 236 people, operating one paper machine.

About UPM Communication Papers
UPM Communication Papers is the world's leading producer of graphic papers, offering an extensive product range for advertising and publishing as well as home and office uses. The high performing papers and service concepts of UPM add value to our customers' businesses, while actively fulfilling demanding environmental and social responsibility criteria. With headquarters in Germany, UPM Communication Papers employs approximately 8,000 people. More about UPM Communication Papers and its products at www.upmpaper.com

UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. We employ around 19,000 people worldwide and our annual sales are approximately EUR 10.5 billion. Our shares are listed on NASDAQ OMX Helsinki. UPM Biofore – Beyond fossils. www.upm.com

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