August 14, 2012
UPM has completed the sale of its closed Papierfabrik Albbruck GmbH to the German Karl Group. UPM permanently ceased graphic paper production at the mill situated in Baden-Württemberg, Germany in January 2012.
The Karl Group, experienced in developing industrial sites, is planning to establish new businesses on the premises of the former paper mill within the next 3 to 5 years in agreement with the local authorities.
“Our aim was to identify development ideas and business opportunities for the site“, says Hartmut Wurster, who represented UPM in the negotiations. “The sale to Karl Group opens up new economic perspectives for the whole region“.
Meanwhile, more than 200 former paper mill employees have found new jobs supported by the transfer company funded by UPM.