UPM receives European Commission's Statement of Objections

(UPM, Helsinki, August 26, 2026 at 11.10 EEST) – As part of the merger control approval process for the planned graphic paper Joint Venture between UPM and Sappi, 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.

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UPM
UPM is a material solutions company, renewing products and entire value chains with an extensive portfolio of renewable fibres, advanced materials, decarbonization solutions, and communication papers. Our performance in sustainability has been recognized by third parties, including EcoVadis and the Dow Jones Sustainability Indices. We operate globally and employ approximately 15,100 people worldwide, with annual sales of approximately €9.7 billion. Our shares are listed on Nasdaq Helsinki Ltd.
UPM – we renew the everyday
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