# UPM and Sappi sign letter of intent to form graphic paper joint venture

UPM and Sappi signed a non-binding letter of intent on December 4, 2025, to form a 50/50 joint venture combining UPM Communication Papers and Sappi's European graphic paper business, aiming to rationalize supply in the declining European market.

- Type: Partnership
- Announced: 2025-12-04
- Status: announced
- Products: graphic paper
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Sappi Limited](https://endata.com/companies/912.md) (partner)
- [UPM-Kymmene](https://endata.com/companies/14324.md) (partner)

## Sources

- [news.cision.com](https://news.cision.com/upm-kymmene-oyj/r/inside-information--upm-and-sappi-have-signed-a-non-binding-letter-of-intent-to-form-a-graphic-paper,c4277123), 2025-12-04: "The proposed Joint Venture represents a decisive response to the structural changes in the European graphic paper industry."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.