Metsa Board Finalized Permanent Closure of Tako Board Mill

SEATTLE (Scrap Monster): The Metsa Board declared that it has completed the reform talks that were started in January of this year with the goal of increasing the mill facilities' profitability and cost effectiveness.

As a result, by the end of Q2 of this year, the company has made the decision to permanently shut down the Tako board mill. Despite the Tako activities being shut down, the company has enough folding boxboard production capacity to guarantee seamless customer deliveries. The business will also take the required actions to increase Kyro Board Mill's operational efficiency. According to a corporate news release, the actions are expected to result in the loss of about 208 positions overall.

After the mill closure, Metsa Board is expected to produce about 1.4 million tonnes of folding boxboard annually.

Starting in the second half of this year, the actions are anticipated to result in an annual comparable EBITDA improvement of around EUR 30 million. The operating result for the first quarter of 2025 will show a one-time profit impact of about Euro -28 million due to asset impairment. The one-time financial impact is roughly EUR -1 million.

Mika Joukio, the CEO; Timo Ahonen, the vice president of Tako Board Mill; and Petri Huiko, the vice president of Kyro Board Mill, were present at the company's media news conference yesterday.

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