December
06
/ 2025
"The proposed Joint Venture represents a decisive response to the structural changes in the European graphic paper industry. It would offer a path to strengthen the resilience of the industry and provide long-term commitment and supply security to graphic paper customers," says Massimo Reynaudo, President and CEO of UPM.
“UPM Communication Papers has reliably delivered value to customers as well as UPM shareholders. It has been the foundation upon which UPM has expanded its broad portfolio of sustainable material solutions. The planned Joint Venture would provide the best future for the UPM Communication Papers business, focus UPM’s portfolio and strengthen our balance sheet,” says Reynaudo.
Securing long-term resilience and sustainability
Short Description
UPM-Kymmene Corporation (“UPM”) and Sappi Limited (“Sappi”) have signed a non-binding letter of intent to form a graphic paper joint venture (“the Joint Venture”). The Joint Venture would include the entire UPM Communication Papers business and Sappi’s graphic paper business in Europe. The Joint Venture would be owned 50/50 by UPM and Sappi. It would operate as an independent company, managing its own operations, resources, and decisions within agreed shareholder boundaries.
