M-real Corporation Stock Exchange Bulletin 2.12.2004 at 10 a.m.
M-real Corporation has signed an agreement to sell the business operations of
Savon Sellu to a company to be founded by Dr. Dermot F. Smurfit in his private
capacity and a group of other international investors. The parties to the deal
have set the total price at about EUR 20 million out of which about EUR 12
million is related to Savon Sellu's fixed assets. The deal is expected to come
into force as from the beginning of 2005.
Savon Sellu was established in 1968 and it produces semi chemical fluting,
which is used in fruit and vegetable packaging, for example. Savon Sellu's
annual production capacity is 245,000 tonnes and the plant employs 252 people.
The current employees of Savon Sellu will move to the new company.
The deal is part of M-real's action plan to divest its non-core assets.
For additional information, contact Chief Financial Officer Juhani Pöhö, tel.
+358 10 469 5283
M-real Corporation is a European paper and paperboard company with nearly
16,500 employees. M-real provides fibre-based solutions for consumer packaging,
communications and advertising end-uses. Through its worldwide sales network,
M-real serves its customers consisting mostly of publishers, printers, paper
merchants, offices and well-known consumer product companies. The turnover of
M-real in 2003 amounted to 6 billion euros. The company is headquartered in
Finland, and it is listed in the Helsinki Stock Exchange.
Metsä Group is a forerunner in sustainable bioeconomy utilising renewable wood from sustainably managed northern forests. Metsä Group focuses on wood supply and forest services, wood products, pulp, fresh fibre paperboards and tissue and greaseproof papers.
In 2019, Metsä Group’s sales totalled EUR 5.5 billion, and it employs approximately 9,300 people. Metsäliitto Cooperative is the parent company of Metsä Group and is owned by approximately 103,000 Finnish forest owners.