UPM has completed the sale of assets and part of the Stracel paper mill site land to Blue Paper, the joint venture company of VPK Packaging Group and Klingele Papierwerke.
According to the Finnish paper company, Blue Paper, which will convert the paper mill to produce recycled fiber-based fluting and test-liner, is creating 130 new jobs at the mill. Production is expected to commence after completing investments in autumn 2013.
The sale of the mill was part of the company's plan to adjust its magazine paper and newsprint paper capacity to match the needs of its global customer base, which was previously announced in August 2011.
In January 2013, UPM stopped the production of coated magazine paper at the mill.
The company has not disclosed the transaction value.
