UPM and Sappi propose remedies in EU review of planned graphic paper joint venture

UPM and Sappi have submitted proposed remedies to the European Commission as it reviews their planned graphic paper joint venture. The proposals include commitments on supply capacity for certain paper grades in Europe, commercial safeguards for customers and investments in energy efficiency.

UPM’s silver griffin emblem on the white facade of a glass-fronted building, seen from below against a blue sky. — UPM and Sappi have proposed commitments on supply capacity for certain paper grades in Europe as the European Commission reviews their planned graphic paper joint venture.

The companies propose adjusting capacity for the supply of certain paper grades and disclosing information about those adjustments. The commitments also cover investments in electrification and emissions reduction. If the joint venture goes ahead, it would work out the specific measures after it is established.

UPM says the joint venture would allow the companies to adapt capacity to falling demand while maintaining reliable supplies for customers. According to UPM, European graphic paper sales fell by 7% in the third quarter of 2026 compared with the same period a year earlier.

UPM maintains that the transaction raises no competition concerns. The European Commission will now assess the proposed remedies. UPM expects a final decision by the end of 2026 or shortly afterwards.