Displaying items by tag: Metsä Board

2014 01 30 083551Metsä Board Corporation Stock Exchange Release 23 June 2015 at 9 am EET

Moody's Investors Service has upgraded Metsä Board Corporation's rating by two notches from B1 to Ba2. The outlook of the rating is stable.

The upgrade does not have an impact on Metsä Board’s current annual financing costs.

METSÄ BOARD CORPORATION

Further information:
Markus Holm, CFO, tel. +358 10 465 4913

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2014 01 30 083551Metsä Board Corporation, part of Metsä Group, announced on 29 April 2015 that it has agreed to divest 100 per cent of its shares in Metsä Board Zanders GmbH including all related liabilities to mutares AG’s fully owned holding company and its partner company.
The transaction has been closed.

METSÄ BOARD CORPORATION
 
For further information, please contact:
Markus Holm, CFO, tel. +358 10 465 4913

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2014 01 30 083551Metsä Board’s VP, Investor Relations and Communications, Juha Laine has been appointed SVP, Communications of Metsä Group as of 4 May 2015.

Laine continues to be responsible for Metsä Board’s investor relations activities until the successor has been appointed. Process to appoint the successor is ongoing.

METSÄ BOARD CORPORATION

For further information, please contact:

Markus Holm, CFO, tel. +358 10 465 4913

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Thursday, 30 April 2015 10:20

Metsä Board divests Gohrsmühle mill in Germany

2014 01 30 083551Metsä Board Corporation, a part of Metsä Group, has agreed to divest 100 per cent of its shares in Metsä Board Zanders GmbH including all related liabilities to mutares AG and its partner company. Metsä Board Zanders GmbH contains the business operations of Gohrsmühle mill located in Bergisch Gladbach, Germany. Gohrsmühle mill has approximately 480 employees and its main products are cast coated and label papers.

Closing of the transaction is subject to German competition authorities’ approval and it is expected to take place by the end of May 2015.

The divestment would reduce Metsä Board’s annual sales by approximately EUR 90 million and improve operating result by approximately EUR 20 million compared to 2014. A related positive non-recurring item of EUR 15 million is expected to be booked in Non-core operations segment’s 2Q 2015 operating result.

“This is an important step in our transformation to a paperboard company and also a major profit improvement measure. mutares AG is in a good position to develop Gohrsmühle mill’s businesses further together with the personnel”, comments CEO Mika Joukio.  

mutares AG is a German industrial holding company that focuses on acquiring medium-sized companies with the goal of sustainably increasing their value in close co-operation with their management and employees. Annual sales of mutares Group was approximately EUR 650 million in 2014. mutares AG is listed in the Frankfurt stock exchange (ISIN: DE000A0SMSH2).

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The world’s leading paperboard producer Metsä Board has chosen Tieto to deliver a complete manufacturing execution system (MES) to its mill in Husum, Sweden.

2014 10 24 082522 tieto logo blueTieto is a strong player in the board and paper industry: Tieto has installed more than 220 manufacturing execution systems worldwide. Tieto’s TIPS is the leading manufacturing execution system covering sales, logistics and production management for the pulp, paper, board and tissue industries. It integrates business, planning and production processes in real time.

The new contract continues a successful partnership between Tieto and Metsä Board. Tieto has already delivered TIPS MES to Metsä’s other mills in the Nordics. Implementing TIPS MES in Husum will help Metsä Board to harmonize and integrate workflows and processes globally. The new solution leads to more cost-efficient maintenance and support, and Metsä Board will benefit from having parallel key performance indicators across all mills.

“Tieto knows the industry and our company well. We are pleased to continue this partnership by integrating all our mills into the same system, which will help us provide a more harmonized system environment and way to operate,” says Börje Wiklund, IT Manager at Husum mill.

“This deal further enhances our relationship with Metsä Board and shows the true business value that the digitalisation of processes can bring to the board industry. We are pleased that Metsä Board has shown continued confidence in our cutting-edge TIPS products. We know how to run projects together, and we have an established governance model in place with MES,” says Mats Lidström, Tieto Customer Manager.

For further information, please contact:

Mats Lidström, Customer Manager, Tieto, +46 (0)70 590 59 37, This email address is being protected from spambots. You need JavaScript enabled to view it.

Börje Wiklund, IT Manager, Metsä Group, +46 663 18470, This email address is being protected from spambots. You need JavaScript enabled to view it.

Tieto is the largest IT services company in the Nordics providing full-life-cycle IT services. We also provide global product development services for companies in the communications and embedded technologies arena. Through industry insight, technology vision, and innovative thinking, Tieto proactively strives to inspire and engage our customers in finding new ways of accelerating their businesses.

Building on a strong Nordic heritage, Tieto combines global capabilities with local presence. Headquartered in Helsinki, Finland, Tieto has over 13,000 experts in more than 20 countries. Turnover is approximately €1.5 billion. Tieto’s shares are listed on NASDAQ in Helsinki and Stockholm. www.tieto.com

Metsä Board is a European producer of folding boxboard and white fresh forest fibre linerboard. Metsä Board offers its customers high-performance paperboards for consumer and retail packaging and the graphics industry. The company sales network serves brand owners, packaging manufacturers, printers and merchants. Metsä Board is part of the Metsä Group, and its shares are listed on the NASDAQ OMX Helsinki. www.metsaboard.com

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Wednesday, 11 June 2014 10:00

Mika Joukio appointed Metsä Board’s CEO

mika metsaboardMetsä Board Corporation’s Board of Directors has appointed M.Sc. (Tech.), MBA Mika Joukio (49) as the company’s new CEO. Joukio will start in the position on 1 December 2014 at the latest.

Joukio joins Metsä Board from Metsä Tissue Corporation, part of Metsä Group, where he has been the CEO since 2012. Prior to Metsä Tissue, Joukio worked as the head of Metsä Board’s paperboard business during 2006–2011. He has held various management positions in the company and its predecessors Metsä-Serla Corporation and M-real Corporation since 1990.

“Mika Joukio has strong earlier experience in Metsä Board and in paperboard as well as consumer product industries. He has a good track record of successful business management in Metsä Tissue. He has an excellent starting point to continuing profitable growth of Metsä Board”, says Kari Jordan, Chairman of the Board of Directors.

Metsä Board’s current CEO Mikko Helander will move to another company on 1 December 2014 at the latest.

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Metsä Board Corporation published on 15 February 2013 a press release concerning a fire at the reel warehouse of the Gohrsmühle mill in Germany. The fire has been put out and a fire-watch has been installed. No personal injuries occurred. The fire did not spread outside the reel warehouse.

Metsä Board produces cast coated Chromolux papers and has folding boxboard sheeting operations, launched in autumn 2012, at the Gohrsmühle mill.

The fire did not have material impacts on Chromolux production. Neither is the fire expected to have any material impact on Metsä Board’s total folding boxboard deliveries nor any material result impact for Metsä Board.

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logoA fire broke at the reel warehouse of Metsä Board Corporation’s Gohrsmühle mill in Germany early in the morning of 15 February 2013. Several fire rescue departments’ units from the neighboring areas arrived on the mill site and the work to put out the fire continues. According to current information there is no danger of the fire spreading to a wider area. No personal injuries have occurred.   

Metsä Board produces cast coated Chromolux papers and has folding boxboard sheeting operations, launched in autumn 2012, at the Gohrsmühle mill.

The sheeting operations at the site will be stopped for some time due to the fire and customers will be informed about the possible impacts on the deliveries in due course. According to current understanding, the fire is not expected to have any material impact on Metsä Board’s total folding boxboard deliveries nor any material result impact for Metsä Board.

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logoMetsä Board Corporation, part of Metsä Group, announced in March 2012 the start of a voluntary reindustrialization project in Alizay mill in France. The project is carried out jointly by Metsä Board, workers’ representatives and local authorities.

Negotiations regarding the divestment of the land, buildings and machinery of the Alizay mill have proceeded, but unlike discussed in certain public medias, an agreement on the divestment has not been signed. If the negotiations proceed well, it is possible that the arrangement will materialize by year end. This will be announced separately.

Metsä Board permanently closed down the Alizay site in early 2012 as part of the group’s strategic transformation from a fine paper company to a paperboard company.

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logoMetsä Board Corporation, a part of Metsä Group, divested on 3 May 2012 a 7.3 percentage point shareholding in Metsä Fibre Oy to Japan-based Itochu Corporation for EUR 138 million. At the same time Metsäliitto Cooperative, divested 17.6 percentage points of their holding in Metsä Fibre to Itochu. Metsä Board’s parent entity Metsäliitto had exercised on 24 April 2012 its call option pursuant to an amendment to the shareholders’ agreement to purchase the UPM-Kymmene Corporation’s 11 percentage holding in Metsä Fibre.

UPM has today initiated arbitration proceedings in which it claims jointly from Metsäliitto and Metsä Board primarily EUR 58.5 million in damages and secondarily to return an EUR 58.5 million claimed unjust enrichment. The claims are based on an alleged breach of the tag-along clause specified in Metsä Fibre’s shareholder agreement signed in 2009.

Metsä Board considers UPM’s claim to be unfounded in its entirety and will not book provisions related to this claim. The claim does not have an effect on the Itochu transaction or on Metsä Board’s cooperation with Itochu and it is not based on agreements made with Itochu. 

The dispute initiated by UPM will be processed in a court of arbitration and the outcome will be announced later on.

METSÄ BOARD CORPORATION

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