Pulp and Paper Canada

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UPM sells Myllykoski mill site to Redeve Oy


April 15, 2018
By P&PC Staff

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Apr. 15, 2018 – UPM has sold its Myllykoski mill site and premises in Kouvola, Finland, to real estate developer Redeve Oy.

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

“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 their 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.

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

One of six UPM business areas, UPM Paper ENA (Europe and North America) is a global producer of graphic papers, offering products for advertising and publishing as well as home and office uses.