Consumables

Myllykoski owners signed agreement to sell Myllykoski and Rhein Papier to UPM

Tuesday 21. December 2010 - The owners of Myllykoski Group and Rhein Papier GmbH have reached an agreement to sell the companies to UPM. The transaction includes all Myllykoski and Rhein Papier entities and their operations in Finland, Germany and the United States as well as the sales network. The agreement does not impact the position of the Myllykoski and Rhein Papier personnel.

The transaction is subject to the approval, among others, of the competition authorities and debt restructuring of Myllykoski Group and Rhein Papier GmbH (including capital loans). The target is to close the transaction during the second quarter of 2011. Myllykoski and Rhein Papier will continue normal independent operations until the closing.
“We have made a decision to sell our companies to UPM, the leading forest industry company. I believe that the Myllykoski personnel will through this arrangement have good prospects for the future, and that our customers will continue to get good and skillful service and fine products. For our suppliers this can be a possibility to extend their business. Myllykoski has been an innovator in paper industry and developed new grades and technologies of which we are very proud. The Myllykoski-name stands for firm belief in quality, reliability and development. We are very proud of Myllykoski’s fine achievements”, says Carl G. Björnberg, Chairman of the Board of Directors, Myllykoski Corporation.