The Metsä company is to release capital from its pulp business and to focus on growth in paperboard.
Metsä Board has made the final decision on the renewal of its Husum pulp mill and simultaneously signed an agreement to sell a 30% stake in the mill to Swedish forest owner cooperative Norra Skog. The company says it is thus releasing capital from its pulp business in order to focus on growth in its paperboard division.
Metsä Board says its strategy is to continue profitable growth in fresh fiber-based packaging materials. The cash released by the transaction and avoided future investments, totaling more than €350m, will enable significant reallocation of its development investments to paperboard, the company explains. Its projects aim at organic growth, developing its product offering, and improve its cost-efficiency.