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UPM opens consultation process for potential closure of its Chapelle newsprint mill while continuing the sales process

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UPM opens consultation process for potential closure of its Chapelle newsprint mill while continuing the sales process

February 24, 2020 - 13:12
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In September 2019, UPM announced the intention to sell its Chapelle newsprint mill in Grand-Couronne, France.

It was communicated at the same time, that a process for the potential closure of the mill would be opened in case no credible offer would be received until mid-January 2020.

While discussions with interested parties are still ongoing, UPM has not received binding offers by potential buyers of the mill to date.

Consequently, the company informed employee representatives of its intention to start the employee consultation processes for the potential closure of the site. These consultations are estimated to be concluded by end of Q2 2020 and will be conducted according to French legislation.

The mill currently employs 236 people with an annual production capacity of 240.000 tonnes of newsprint paper.