UPM completes the sale of its Aigrefeuille timber processing mill in France to Groupe FP Bois
UPM has completed the sale of further processing business in Aigrefeuille d’Aunis, Western France, to Groupe FP Bois. UPM announced in July 2013 the conditional offer received for the Aigrefeuille mill.
Groupe FP Bois, a famlily-run manufacturer of parquetry and wall panels based in southwestern France, will continue wood processing at the Aigrefeuille mill. The annual production capacity of the mill is 45,000 m3 of planed wood products.
”The sale of Aigrefeuille mill opens up new possibilities for both the site and the employees. We think that the new owner has a good opportunity to further develop the business,” says Anssi Klinga, Senior Vice President, UPM Timber. ”Aigrefeuille mill represents an excellent fit to the present scope of the Groupe FP Bois. With this acquisition we aim at developing high value wood products on growth segments,” says Eric Plantier, President, Groupe FP Bois.
Altogether 38 employees of the business will transfer to the new owner. The parties have agreed not to disclose the sales price.
The sale of Aigrefeuille further processing mill follows UPM’s renewed Timber business strategy, focussing on developing the sawmills closely integrated with the company’s pulp and paper mills.
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