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European Commission has restated its serious concerns about planned graphic paper Joint Venture; UPM and Sappi continue to address these concerns

UPM and Sappi have received a Letter of Facts from the European Commission stating that it continues to have serious concerns about the proposed graphic paper Joint Venture. The parties are in the process of analyzing and responding to the Letter of Facts.

UPM disagrees with the Commission’s preliminary assessment and will continue to engage with the review process. UPM continues to believe that the proposed Joint Venture would support the long-term competitiveness, sustainability and resilience of the European graphic paper industry. To address the Commission’s concerns, the parties are planning to submit proposals for specific remedies, but given the rationale of the transaction, not divestments.

Inside information: European Commission has restated its serious concerns about planned graphic paper Joint Venture; UPM and…

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