Processing timeline
1
days
Filed
16 July 2026
Decision Due
27 Aug 2026
Est decision date: 18 Aug 2026. Based on 38 decided Professional & Business Services notifications.
Acquirer(s)
Sappi Limited Registration number - 1936/008963/06, UPM-Kymmene Corporation Finnish Business ID - 1041090-0
Target(s) or Vendor(s)
UPM Communication Papers Holding Oy (TopCo) Finnish Business - ID 3591662-5
Other parties
SAPPI TRADING AUSTRALIA PTY LIMITED ABN - 17 086 317 071, UPM-KYMMENE PTY LTD ABN - 99 001 255 661, UPM Communication Papers Oy 2760641-6
Finnish-based UPM-Kymmene Corporation and South African-based Sappi Limited are forming a 50:50 joint venture. This transaction will combine their European and US communication paper businesses, focusing on producing and supplying paper for printing and writing. Both companies currently supply imported communication paper to Australian customers.
UPM-Kymmene Corporation ( UPM ) and Sappi Limited ( Sappi ) are proposing to create a 50:50 joint venture ( JV ) that will focus on the production and supply of communication paper. The JV will operate predominantly in the European Economic Area, with significant activities in the United Kingdom and the United States as well as exports to third countries, including Australia. Communication paper is paper designed for printing and writing. It is used in magazines, newspapers, catalogues, books, advertising materials, envelopes, and home and office paper. UPM is a Finnish-based global material solutions company that develops, produces, and markets a wide range of products including communication paper and specialty paper (i.e. paper products generally used in labelling and packaging applications). UPM supplies Australian customers with the following imported communication paper products: newsprint magazine paper (coated mechanical paper and supercalendered paper), and fine paper (woodfree coated paper and woodfree uncoated paper). Sappi is a South African-based global manufacturer of everyday materials made from wood fibre-based renewable resources, including communication paper and speciality paper. Sappi supplies Australian customers with the following imported communication paper products: magazine paper (coated mechanical paper only), and fine paper (woodfree coated paper and woodfree uncoated paper). Neither UPM nor Sappi own or operate any paper mills in Australia. The JV will combine UPM’s European and United States communication paper business and Sappi’s European communication paper business (both UPM and Sappi will retain certain communication paper assets outside Europe). The JV will also have some limited ancillary activities in specialty paper (related to the supply of face material, wet glue label paper, paperboard and kraftliner) due to Sappi contributing part of its current European business activities in each of these products to the JV. UPM will not contribute any of its current specialty paper business to the JV.
The ACCC has prepared a questionnaire on the Acquisition. Submissions or information in response to the questionnaire should be provided by 23 July 2026 via email to mergers@accc.gov.au with the title Submission re: UPM-Kymmene – Sappi joint venture . The ACCC’s ability to give detailed consideration to submissions received after this time may be limited.