UPM Decided to Sell Kaipola Paper Mill Site in Finland

SEATTLE (Scrap Monster):  UPM announced that it has sold the Kaipola mill site in Jamsa, Finland to Kaipola Green Port Oy- the real estate development company owned by private citizens in Finland.

The deal comprises of sale of only the real estate and will not involve transfer of any personnel. The purchased mill site will be developed by the real estate development company for manufacturing and industrial logistics purposes.

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It must be noted that the Kaipola paper mill was closed permanently in early 2021, thereby resulting in permanent idling of three paper machines. A total of 448 positions in the mill were affected, of which around 20 positions were transferred to the second paper mill in Jamsa, UPM Jamsankoski. The closure had resulted in reduction of 720,000 tonnes of graphic paper capacity per annum.

Commenting on the development, Hannu Havanka, Vice President, UPM Real Estate noted that the sold mill site possess excellent infrastructure and that it offers significant opportunities for a professional real estate developer like Kaipola Green Port Oy. The site is now open to development from a new basis, he added.

This is the fourth mill to be sold by UPM over the past one year. Earlier, the company had sold Säynätsalo plywood mill in Jyväskylä, Finland, the Shotton paper mill in Wales, United Kingdom, and the Chapelle Darblay paper mill in Grand-Couronne, France.