UPM will begin a sales process to find a new owner for its further processing business in France including a planing mill in Aigrefeuille d’Aunis and related sales organization located in Lagord, near La Rochelle. This activity is part of UPM’s Timber business area, and employs approximately 45 people. The sales process will be launched immediately and is expected to be completed by the end of July 2013.
UPM aims to find a buyer to continue wood processing in Aigrefeuille. In case UPM is presented with a binding offer, the company will proceed with the employee consultation process according to the French legislation.
UPM’s plan to sell the Aigrefeuille mill follows the renewed Timber business strategy announced in April 2012. UPM concentrates on developing the sawmills closely integrated with the company’s pulp and paper mills.
Aigrefeuille further processing mill operations will continue as usual despite the sales process.