16 July 2024: Sappi has found a buyer for the 530,000 tpy Lanaken paper mill. UTB specialises in industrial property conversions and will examine the options for the future utilisation of the Lanaken site. The purchase price amounts to €50m, of which €40m will be paid in cash, says Sappi.

Following the closure of the Lanaken fine paper mill last December, Sappi Limited had initiated the process to sell the land and the mills' assets. Now, the company signed a purchase and sale agreement with Dutch company UTB Waalwijk for the idled Lanaken pulp and paper mill.

According to the companies involved, UTB will acquire all shares in Sappi Lanaken N.V. including all its tangible and intangible assets. Sappi puts the purchase price at €50m, of which €40m in cash. "The transaction is unconditional and expected to close during October 2024," Sappi explained.

In the meantime, the possibilities for future industrial utilisation of the complex in Lanaken are being examined, UTB announced. According to UTB, the industrial complex consists of a 300,000 m² mill site, including two paper machines with a production capacity of 530,000 tpy, stock preparation systems, supercalenders, winders, a 165,000 tpy BCTMP pulp mill, and an on-site logistics centre. The complex is strategically located on the Albert Canal with a 440-metre-long quay wall, UTB describes the property.

The privately owned UTB specialises in industrial property conversions. The company is active in the field of industrial consolidations, business liquidations and factory closures.

by Igor Dugandzic, Euwid