Brief: Metsä Board Will Not Invest In Kaskinen Folding Boxboard Mill

Metsa Board Oyj

21/03/2024 08:04

March 21 (Reuters) - Metsa Board Oyj  METSB.HE :
    * METSÄ BOARD WILL NOT INVEST IN THE KASKINEN FOLDING
BOXBOARD
MILL
    * PRE-ENGINEERING HAS NOW BEEN COMPLETED AND METSÄ BOARD HAS
DECIDED NOT TO PROCEED WITH INVESTMENT IN KASKINEN FOLDING
BOXBOARD MILL
    * WILL WRITE DOWN COSTS OF PRE-ENGINEERING, IN TOTAL
APPROXIMATELY
EUR 8 MILLION
    * TOTAL COST OF PLANNED INVESTMENT WAS SIGNIFICANTLY HIGHER
THAN
ORIGINALLY ESTIMATED, MEANING THAT TARGETS FOR PAYBACK TIME AND
RETURN ON CAPITAL EMPLOYED WOULD NOT HAVE BEEN MET
    * TOTAL ESTIMATED INVESTMENT COST OF SIMPELE AND KYRO
PAPERBOARD
MILLS IS EUR 250 MILLION OVER NEXT 10 YEARS
    * DECIDED TO LAUNCH PROGRAMMES FOR NEW PRODUCT OPTIONS AS
WELL AS
GROWTH AND DEVELOPMENT INVESTMENTS AT ITS EXISTING MILLS
    * AT KYRO BOARD MILL, AN INVESTMENT PROGRAMME WILL BE
LAUNCHED TO
IMPROVE PERFORMANCE OF CURRENT BARRIER BOARD AND EXPAND ITS
END-USE AREAS
    * LAUNCHES A MAJOR INVESTMENT PROGRAMME TO MODERNISE SIMPELE
BOARD
MILL

Source text for Eikon:  ID:nWkr6MVCKg 
Further company coverage:  METSB.HE 

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