HELSINKI (News release) -- UPM has sold the Kaipola mill site in Jämsä, Finland, to Kaipola Green Port Oy. Kaipola Green Port is a real estate development company owned by Finnish private citizens.

The sale consists of the real estate, and no personnel was transferred. Kaipola Green Port plans to develop the mill site for manufacturing and industrial logistics purposes. UPM closed the Kaipola paper mill permanently in early 2021.

In addition to Kaipola, UPM has during the past 12 months sold the Säynätsalo plywood mill in Jyväskylä, Finland, the Shotton paper mill in Wales, United Kingdom, and the Chapelle Darblay paper mill in Grand-Couronne, France.

"Kaipola is now open to development from a new basis. The mill site has an excellent infrastructure and offers many possibilities for a professional real estate developer", comments Vice President Hannu Havanka of UPM Real Estate.