UPM stake in Czech paper processor

Finland / Czech Republic – Paper manufacturer UPM Kymmene of Finland has acquired 33% of the shares of Euro Waste.

The latter, a paper recycler based at Štětí, in the Czech Republic, is a joint venture between paper manufacturers and traders Mondi Steti, Norske Skog and Reparco Trading. UPM is acquiring the shares held by Reparco.
Founded in early 1997, Euro Waste claims to be the largest independent paper recycler within the Czech Republic, processing more than 200 000 tonnes of recovered paper per annum. Most of this material is supplied to its shareholding companies.