Paper giants UPM and Sappi are planning to combine their graphic paper operations in Europe.
The companies have announced a joint venture that will bring together 12 mills under a single entity. The locations include UPM’s Caledonian facility in Ayrshire which produces coated magazine papers.
The deal – worth £1.25 billion – is scheduled to close by the end of 2026, subject to various regulatory and legal approvals. Synergies of around £90 million have been identified and the integration process is expected to be completed three years after closing.
