Metsä Tissue to focus on "producing high-quality tissue and greaseproof papers".
Metsä Tissue agreed to divest its napkin business to keeeper Group, which is part of Mutares Group. The company said that the transaction included the real estate, machinery and equipment and warehouses at the Stotzheim mill in Germany as well as the Fasana and Mondial brands. The mill's personnel is planned to be transferred to the new owner as existing employees.
Metsä Tissue explained that the napkin business had not reached profitability targets lately and that napkin were not part of its core products anymore.The transaction is planned to be completeted in the first quarter of 2020.
The keeeper Group is a major European supplier of plastic household products, serving customers in the DIY, wholesale and furniture retail sector. Mutares is a German stock exchange listed holding company that focuses on acquiring medium-sized companies with the goal of increasing their value with a focus on sustainable growth.
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