UPM-Kymmene to acquire Haindl

UPM-Kymmene Corp. announced it will acquire 100% of the assets of German paper producer G. Haindl'sche Papierfabriken KGaA (Haindl) for $3.25 billion. As part of the deal, UPM--Kymmene will immediately divest two of the Haindl mills to Norske Skog of Norway. Norske Skog will acquire the Walsum mill in Ruhr, Germany, and the Parenco mill in Renkum, the Netherlands, for $915 million, which corresponds to $1,080/mton of capacity The transaction is expected to close in the second half of this year. Haindl operates 12 paper machines across Germany, Austria, and the Netherlands with total production capacity of 2.7 million mtpy.