UPM to sell its hydro power facilities in Schongau and Ettringen to erdgas schwaben
(UPM, Helsinki, 22 March 2017 at 08:30 EET) - UPM has signed an agreement on the sale of its hydro power facilities in Schongau and Ettringen, Germany to erdgas schwaben gmbh, a regional energy company, located in Augsburg. The sale and purchase agreement is still subject to third party approvals. The parties have agreed not to disclose the purchase price. The transaction does not have an effect on the employees working at UPM Schongau and UPM Ettringen mills. "erdgas schwaben is a deep-rooted energy company in Bavarian Swabia as well as a pioneer in power generation from renewable