UPM, Finland, has sold its Myllykoski mill site and premises, located in Kouvola, Finland, to Redeve Oy, Finland. The buyer is specialized in real estate development. The transaction was completed this past week and the ownership of the real estate was transferred to the buyer with an immediate effect.

UPM closed its Myllykoski paper mill in 2011. Since then, the company has been searching for a solution to enable further usage of the site.

"We have been searching for a credible buyer for quite some time and have investigated several options. We are very pleased with the end-result. Redeve is well-known for its capabilities and experience in real estate development. We believe they will bring business and prosperity to the site," said Samuli Eerolainen, director, Real Estate at UPM.

"We are honored to be chosen as the developer of Myllykoski site, and we would like to thank UPM for the trust shown in us. The industrial site of Myllykoski is a highly interesting location for our company. Its development begins immediately," said M.Sc. (Tech) Jari Lahtinen from Redeve Oy.

The contract includes the mill site with its premises, as well as 100 hectares of land. As announced earlier, the biomass boiler, turbine, and generator from Myllykoski site have been acquired by Blue Energy Europe in Germany. 

UPM Paper ENA (Europe and North America) is the world's leading producer of graphic papers, offering an extensive product range for advertising and publishing as well as home and office uses. The high performing papers and service concepts of UPM add value to our customers' businesses, while actively fulfilling demanding environmental and social responsibility criteria. With headquarters in Germany, UPM Paper ENA employs approximately 8,000 people. To learn more about UPM Paper ENA visit the company’s web site.