ROWE now completely owns the recovered paper sorting plant Altpapier Sortierung Dachau (ASD) GmbH in Germany.
Jul 23, 2024
UPM has signed an agreement on the sale of its 50 percent stake in the recovered paper sorting plant ASD Altpapier Sortierung Dachau GmbH in Germany to ROWE GmbH.
As per a release issued by UPM, ROWE GmbH already held the other 50 percent stake in ASD and owns with completion of the transaction 100 percent of the shares in ASD. The parties have agreed not to disclose the purchase price. The transaction will have no impact on the employees of ASD.
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“We are pleased to sell ASD sorting operations to ROWE as they have long-term orientation to recovered paper lifecycle management. ROWE, as part of Veolia, has a high level of expertise in collecting, sorting and handling recovered paper. In the recovered paper supply market, there are still plenty of room for development and optimization, and ASD together with ROWE and Veolia is in a great position to capture this market opportunity,” says Ms. Teija Konttori, Director Fibre Sourcing at UPM.
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“We thank UPM for the trusting cooperation in recent years and are very pleased with the acquisition of the shares. We will build on this successful partnership also after the full acquisition of ASD,” says Mr. Guido Adomßent, Chief Operating Officer of Veolia Umweltservice.
