Metsä Board to Sell Former Mill Property in Finland to City of Tampere

Metsä Board Corp., a part of Metsä Group, Finland, reports that it is in negotiations to divest its property in Lielahti, Tampere, Finland, to the City of Tampere for EUR 26 million. The Lielahti property consists of 90 hectares of land, including buildings on site and 1,071 hectares of water area on Näsijärvi Lake. Closing of the transaction is subject to approvals by the city council and city government of Tampere City, the approval by the Metsä Board Board of Directors, and finalization of trade documentation. If the necessary approvals are received as currently planned, the divestment would take effect by the end of the first quarter.

Metsä Board closed down the BCTMP pulp mill at the Lielahti site in 2008 and has not had any production operations at the site since. Metsä Board is a producer of cartonboards and coated white-top kraftliners, and is also a major paper supplier.

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