FINLAND (News release) -- Metsä Board announced on 15 September 2022 that it will start pre-engineering for a new folding boxboard mill in Kaskinen, Finland. The pre-engineering phase included technical design, design of infrastructure and logistics solutions, tendering for the main equipment as well as financial analysis of the project. The pre-engineering also included an environmental impact assessment and an application for an environmental permit.

The pre-engineering has now been completed and Metsä Board has decided not to proceed with the investment in the Kaskinen folding boxboard mill. The total cost of the planned investment was significantly higher than originally estimated, meaning that the targets for payback time and return on capital employed would not have been met. Metsä Board will write down the costs of the pre-engineering, in total approximately Euro 8 million, treated as an investment, as an item affecting comparability in the January-March 2024 operating result.

Metsä Board is a producer of lightweight and high-quality folding boxboards, food service boards and white kraftliners. Metsä Board is part of Metsä Group.