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M-real to partially divest paper mill in Germany

Oct 27, 2010 12:00 AM

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M-real Corp. has signed a Memorandum of Understanding (MoU) regarding a partial divestment of its Reflex mill in Düren, Germany, to Metsä Tissue Corp. for approximately EUR 10 million. M-real and Metsä Tissue are part of Metsäliitto Group. The mill produces premium papers and specialities in office and image papers, carbonless copy paper and digital imaging papers.

Closing of the transaction is to occur in the beginning of November. The transaction includes the paper machine 5 and related real estate as well as certain infrastructure assets. Metsä Tissue will start producing baking and cooking paper products in the paper machine. As part of the transaction, 74 employees will transfer to the service of Metsä Tissue.