Following the signing of a definitive agreement on the graphic paper Joint Venture last Spring between UPM and Sappi, and as part of the merger control approval proces, the European Commission has issued a Statement of Objections.
The adoption of a Statement of Objections (SO) is a customary step during an in-depth merger investigation by the European Commission. In the SO, the Commission has provided more details on its preliminary concerns. Together with Sappi, UPM is reviewing the SO carefully and will respond in due course.
UPM is confident that it will be able to respond fully to the Commission’s preliminary concerns, and remains convinced that the planned Joint Venture is a necessary step to secure reliable supply continuity for graphic paper customers in Europe and strengthen the resilience of the entire European graphic paper industry, in the interest of customers. UPM will continue to engage constructively with the Commission during the next stages of the ongoing investigation.
Photo/EU
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