Haindl bought by UPM-Kymmene

An agreement was made for the purchase of Haindl by Finnish paper giant UPM-Kymmene for Euro3.85bn. With a combined production capacity of 860,000 tonnes of publication paper, the acquired assets of Haindl and UPM-Kymmene would be able to achieve annual synergies of Euro 70m by the end of 2003. UPM-Kymmene could become the leading supplier of publication papers with the high quality of Haindl's mills and its skilled workforce.