Metsä Group’s Finnish sawmills will become part of Metsä Fibre
Metsä Group stock exchange release 29 June 2016 at 11 am EET
Metsä Group’s Finnish sawmills will become part of the Group’s pulp industry Metsä Fibre in a group internal transaction. Until now, the sawmills have been part of the Group’s wood products industry Metsä Wood apart from the Svir sawmill in Russia which has already been part of Metsä Fibre. The transfer is expected to take place by the end of 2016.
The transfer is done to fully utilize the industrial synergies between pulp production and sawmilling. Use of wood raw material and logistics costs can be optimized even better than so far in a combined entity.
The transaction does not impact Metsä Group’s annual sales, operating result excluding non-recurring items or balance sheet ratios.
The transfer does not impact the amount of employees. Sawmills’ employees will move to Metsä Fibre’s payroll. Metsä Wood will act as Metsä Fibre’s sawn timber sales channel in the future.
Sawmills included in the transaction are Vilppula, Lappeenranta, Renko, Merikarvia, Kyrö and Eskola. Their combined annual sawn timber production is approximately 1,6 million cubic meters.
Ilkka Hämälä, CEO, Metsä Fibre, tel.: +358 50 598 8617
Esa Kaikkonen, Executive Vice President, Metsä Wood, tel.: +358 10 465 4749
Metsä Group is a forerunner in bioeconomy utilising renewable wood from sustainably managed northern forests. Metsä Group focuses on wood supply and forest services, wood products, pulp, fresh forest fibre paperboards and tissue and cooking papers. Metsä Group’s sales totalled EUR 5.0 billion in 2015, and it employs approximately 9,600 people. The Group operates in some 30 countries. Metsäliitto Cooperative is the parent company of Metsä Group and owned by approximately 116,000 Finnish forest owners.