Mergers and acquisitions, and structural change

Mergers and acquisitions, and structural change

Mergers and acquisitions


Structural  change

Metsä Board started its systematic change to a true paperboard company in 2005, and the structural change was mostly implemented by 2012. To mark this change, the company changed its name from M-real Corporation to Metsä Board Corporation. At the same time, the whole Metsä Group renewed its corporate identity under one Metsä brand. The change represented the final stage in a profound restructuring to create a unified and competitive forest industry group. Since this, Metsä Board has taken the final steps in this transformation.

Metsä Board’s latest divestment was the Gohrsmühle mill in Germany, which was sold to mutares AG in 2015. In December 2014, Metsä Board announced to invest in a new folding boxboard machine at its Husum mill in Sweden. Two paper machines at the mill were closed down, and one was converted into a linerboard production. Husum investment programme discontinued the paper production, and the last paper reel was sold in December 2016. From 2017 onwards Metsä Board has been a pure-play paperboard company.

Timeline of the transformation

2005 Structural change starts

  • Paper businesses over 80% of sales
  • Decision to exit paper business

2006 Strategic review launched

  • Restructuring and focused investment programme initiated, focus on paperboard

2007–2013 Streamlining and focused investments

  • Paper capacity reduction from about 5 million to 0.8 million annual tonnes
  • Major divestments including Graphic Papers and Map Merchants
  • Paperboard capacity increases

2013 Strategic review completed

  • Clear focus on paperboard
  • Paper production about a quarter of sales

2015 Strong position and growing

  • Europe's leading producer of folding boxboard
  • The world's leading manufacturer of coated white-top kraftliners
  • Exit from paper business