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Metsa to focus on tissue business, improve efficiency

22 May '19

1 min read

Pic: Metsa

Metsa Tissue, a part of Metsa Group, has updated its strategy including an operational review with the target to improve internal efficiency, reduce complexity and focus on the tissue business. As part of this operational review, an impairment test according to IAS 36 has been conducted. Metsä Group is a forerunner in sustainable bio-economy.

Further, the company press release said that in the second quarter of fiscal 2019, it will book a goodwill, mainly related to impairment of approximately €102 million. In addition, the company will book a restructuring provision of approximately €5 million related to the ongoing and already completed co-determination negotiations.

These bookings have a weakening impact to Metsa Tissue’s equity ratio of approximately 8 percentage points. Impact to the whole Metsa Group’s equity ratio is minor. (RR)

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