UPM has signed an agreement to sell its 50% stake in ASD Altpapier Sortierung Dachau GmbH, Germany (“ASD”) to ROWE GmbH, a company specialising in services, processing and logistics in the field of recovered paper.
ROWE GmbH already holds 50% of the shares in ASD and will hold 100% of the shares in ASD after the transaction has been completed. The parties have agreed not to disclose the sales price. The transaction will have no impact on the ASD workforce.
“We are pleased to sell the ASD sorting plants to ROWE as the company has a long-term focus on the life cycle management of waste paper. ROWE, as part of Veolia, has a high level of expertise in the collection, sorting and handling of waste paper. There is still a lot of room for development and optimization in the waste paper supply market and ASD, together with ROWE and Veolia, is in an excellent position to exploit this market opportunity,” says Teija Konttori, Director Sourcing at UPM.
UPM Communication Papers offers the industry's most comprehensive portfolio for newspaper, magazine, marketing and book printing as well as for home and office applications. Headquartered in Germany, UPM Communication Papers employs around 6,000 people and produces in 11 modern paper mills worldwide.
