Business News

Myllykoski sells Utzenstorf mill

Thursday 25. June 2009 - Myllykoski Corporation has sold its Papierfabrik Utzenstorf AG mill to the company's current management. The deal is closed today, on June 24.

The transaction will have a positive impact of approximately EUR 15 million on the second quarter result. The mill in Switzerland has an annual capacity of 210,000 tonnes newsprint grades.

“The decision to sell the Utzenstorf mill is a continuation to our structural changes aiming at streamlining our organisation. Our focus is strongly on improved profitability, and we believe this decision supports this objective well”, states Sverre Norrgård, President and CEO of Myllykoski Corporation.

“Utzenstorf is a very healthy mill and successful in its own market area. We believe that the management buyout creates an excellent basis for further development of Utzenstorf “, says Sverre Norrgård.

There will be a transfer period for sales arrangements to make sure that the service to our paper buyers remains untroubled.