UPM sells its Shotton paper mill to Eren Paper Ltd

(UPM, Helsinki, 14 May 2021, 15.30 EEST) – UPM has signed an agreement to sell its Shotton newsprint mill site in North Wales, United Kingdom and all related assets to Eren Paper Ltd, a subsidiary of Modern Karton Sanayi Ve Ticaret A.Ş., the containerboard and corrugated packaging business of the Turkish industrial conglomerate Eren Holding (“Eren”). The closing of the transaction is planned for late Q3 2021. Eren’s plan is to integrate the Shotton site into its existing business units and to make further investment at the site. All 190 employees currently working at UPM Shotton will be