UPM completes Steyrermühl plant sale to HEINZEL GROUP

The forest-based bio-industry company UPM on Tuesday completed the sale of Steyrermühl site and all related assets to HEINZEL GROUP, a leading pulp, packaging and paper producer and trader in Central and Eastern Europe, said UPM in a press release.

UPM Steyrermühl was founded in 1868 and produced newsprint paper until the end of the second quarter of 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. The closing of the newspaper production in Steyrermühl ended a very successful chapter of UPM Communication Papers' paper production history in Austria and now the Steyrermühl mill also has a new owner after the completion of the sale,” said Massimo Reynaudo, UPM President and CEO.

UPM will remain committed to the newsprint business as one of the industry’s leading producers, continuing newsprint production at its Schongau, Ettringen, Hürth and Jämsänkoski mills.

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

Earlier in June 2022, UPM signed an agreement to sell 100% of the shares of its Austrian subsidiary UPM Kymmene-Austria GmbH to the HEINZEL GROUP.