Metsä Board completes divestment of its Lielahti site in Tampere, Finland, where it operated a BCTMP mill that closed in 2008; city of Tampere paid €26M for the 90-acre site, which includes buildings and water area on Näsijärvi lake
March 28, 2014
– Metsä Board Corporation, part of Metsä Group, announced on 30 January 2014 its intention to divest its property in Lielahti, Tampere to the City of Tampere for EUR 26 million. The Lielahti property consists of 90 hectares of land, incl. buildings on site, and 1,071 hectares of water area on Näsijärvi lake.
The transaction has been completed on 28 March 2014.
Metsä Board closed down the BCTMP pulp mill at the Lielahti site in 2008 and has not had any production operations at the site since. The divestment of Lielahti property does not impact Metsä Board’s annual sales nor have any impact on operative result. Lielahti property’s book value was written off in connection to the mill closure in 2008. Thus, related to the divestment Metsä Board books approximately EUR 25 million in positive non-recurring items in the Other operations’ 1Q 2014 operating result.
Metsä Board’s proceeds from property divestments in Lielahti and Niemenranta estates in Tampere has since 2010 been approximately EUR 45 million in total. Metsä Board expects approximately EUR 40 million in further proceeds from additional property divestments in Niemenranta during the next approximately 7 years.
METSÄ BOARD CORPORATION