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Corporate
M-Real sells Belgian carton plants
M-real, part of the Metsäliitto Group, has today sold the entire share capital of its subsidiary M-real Meulemans in Belgium to the French Autajon Group, under a share sales agreement that became effective immediately. The transaction has no significant impact on M-real's operating profit. Meulemans has some 240 employees and has sales of approximately 30 million Euros.“The sale of Meulemans wraps up the restructuring program which we announced in October 2006. The asset divestment target set for the program was 500 million Euros and it is now clearly exceeded being approximately million Euros,” says Mikko Helander, CEO of M-real.
“Thanks to the successfully realized program we are able to fully compensate the cost inflation in 2007. We have already started the fourth step of M-real’s strategic review by launching a new program in November 2007 to achieve a profit improvement of 100 million Euros”, adds Helander.
