The Finnish forest industry company UPM signed an agreement on the sale of the recovered paper sorting plant ASK Kinsau in Germany to the Fisel Holding GmbH & Co. KG, a recovered logistics and municipal waste disposal company, said UPM in a press release on Monday.
The sale and purchase agreement includes the site and buildings. The parties have agreed not to disclose the purchase price. All employees of ASK Kinsau will be transferred to the new owner.
“We are pleased, having found a long-term oriented and innovative buyer for the Kinsau site. The Fisel Group has a high level of expertise in handling recovered paper. As an integral part of this recycling company the sorting facilities could be better developed and optimized,” said Marco Kulterer, responsible for RCP Supply Chain & Operations at UPM Sourcing.
“ASK Kinsau will remain an important site for sorting and processing further recovered paper in Bavaria. We plan to invest in the sorting plant and the site in near future, as well as to improve the logistical capabilities on site. We are pleased to welcome the long-serving and competent employees to our company and look forward to the future with optimism together with them,” said Matthias Fisel, Managing Director, ASK.
Earlier on June 28, UPM closed down paper machines at its paper mills in Schongau, Germany and Steyrermühl, Austria, which will affect 136 employees.
- UPM
- Sells
- Plant
- Germany
Source: www.dailyfinland.fi
