UPM and Sappi submit remedies to EU regulators regarding paper joint venture
UPM and Sappi have proposed commitments to the European Commission to address competition concerns surrounding their planned graphic paper joint venture.
UPM and Sappi have formally submitted a package of remedies to the European Commission as part of the regulatory review process for their proposed joint venture in the graphic paper sector. The move aims to resolve potential antitrust concerns identified by the Commission during its ongoing investigation.
The proposed commitments focus on operational changes, specifically the optimization of production capacity for certain paper grades within the European market, alongside requirements for increased transparency. Despite submitting these remedies, UPM maintains its stance that the transaction does not negatively affect industry competition.
The Commission is currently evaluating the proposals to determine if they sufficiently preserve market competition. The establishment of the joint venture remains subject to formal regulatory clearance.