Metsä Board has concluded the change negotiations that began in January to improve the company's profitability and cost competitiveness. As a result of the negotiations, Metsä Board will permanently close Tako board mill and enhance the operational efficiency of Kyro board mill. The measures will lead to a total reduction of 208 jobs.
CEO Mika Joukio: "The change negotiations with the personnel were conducted in a constructive spirit. Finding new jobs for the people being laid off is our primary goal, and we also aim to help with employment by offering reemployment training and support."
Production at the Tako board mill is planned to end by the end of the second quarter of 2025 at the latest. The closure of the mill will not affect customer deliveries, as Metsä Board's total annual folding boxboard production capacity is sufficient to meet current demand. After the mill closure, Metsä Board's annual folding boxboard capacity will be approximately 1.4 million tonnes.
Metsä Board estimates that the measures now decided will improve the annual comparable EBITDA by approximately EUR 30 million, mainly from the second half of 2025. A one-off profit impact of approximately EUR -28 million will be recorded in connection with the closure of the Tako mill, mainly related to the impairment of assets. It will be recorded in Metsä Board's operating result for the first quarter of 2025 as an item affecting comparability. The one-off cash impact is approximately EUR -1 million.
Press conference
Metsä Board will hold a press conference in Finnish for the media in Scandic Tampere City, Hämeenkatu 1, on Monday, March 10, 2025 at 5:00 p.m. The event will be attended by Mika Joukio, CEO; Timo Ahonen, VP, Tako Board Mill and Petri Huiko, VP, Kyro Board mill. The event can also be followed as a Teams meeting, where questions can be asked via the chat function. You can register for the event and the Teams meeting at this link https://forms.office.com/e/WuVxeGYQwD.
Investor inquiries will be answered by CFO Henri Sederholm and VP, Investor Relations Katri Sundström.
METSÄ BOARD CORPORATION