UPM has entered into exclusive negotiations with VPK Packaging Group NV and Klingele Papierwerke through their newly created joint venture company, for the sale of assets and part of the land at the UPM Stracel paper mill site in Strasbourg, France.
VPK and Klingele have made an offer on the acquisition of assets from UPM. According to the plan, UPM would retain part of the Stracel real estate in its possession for potential future production of advanced biofuels.
VPK and Klingele plan to convert the Stracel mill into a recycled fibre-based containerboard unit, producing fluting and test-liner. The planned production of the mill would be approximately 300 000 tonnes per year.