UPM Completes Sale of Shuttered Papierfabrik Albbruck Mill to German Karl Group
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UPM, Finland, reports that it completed the sale of its closed Papierfabrik Albbruck GmbH mill in Germany to the German Karl Group. UPM permanently ceased graphic paper production at the mill situated in Baden-Württemberg this past January.
The Karl Group plans to establish new businesses on the premises of the former paper mill within the next three to five years. "Our aim was to identify development ideas and business opportunities for the site," said Hartmut Wurster, who represented UPM in the negotiations. "The sale to Karl Group opens up new economic perspectives for the whole region."
Meanwhile, more than 200 former paper mill employees have found new jobs supported by the transfer company funded by UPM.
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