Metsä Board, part of Metsä Group, and Euroports have signed an agreement on 16 December 2021, according to which Metsä Board Corporation will sell the entire share capital of its fully owned subsidiary Oy Hangö Stevedoring Ab to Euroports Finland Oy.
The transaction is expected to be completed in the first quarter of 2022. The parties have mutually agreed that the transaction price will not be disclosed. The gain on sale will be reported as an item affecting comparability and will not have a material impact on Metsä Board's key financials.
Hangö Stevedoring is a port operator in the Port of Hanko and its business is not part of Metsä Board's core business. The company has approximately 180 employees and its sales in 2020 were approximately EUR 20 million.
Metsä Board is a leading European producer of premium fresh fibre paperboards. We focus on lightweight and high-quality folding boxboards, food service boards and white kraftliners. The pure fresh fibres we use in our products are a renewable resource, that can be traced back to sustainably managed northern forests. We are a forerunner in sustainability, and we aim to have completely fossil free mills and raw materials by 2030.
Together with our customers we develop innovative packaging solutions to create better consumer experiences with less environmental impact. In 2020 our sales totalled EUR 1.9 billion, and we have around 2,400 employees. Metsä Board, part of Metsä Group, is listed on the Nasdaq Helsinki.
Source: Metsä Board