Mayr-Melnhof has completed the acquisition of Kotkamills in Finland, which was agreed in December 2020, after receiving approval from all relevant competition authorities.
Through the acquisition, MM strengthens its position in the virgin fibre cartonboard market with an attractive range of barrier cartonboard solutions that can replace PE-coated cartonboard. Moreover, MM enters the growing cupstock market. This acquisition complements MM’s established market position in recycled cartonboard. In addition, MM diversifies the business with Saturating Kraft Paper.
“MM Kotkamills will take a strong and dynamic position within MM as the innovator in novel cupstock solutions with water-based dispersion barriers applied by on-line technology,” says Peter Oswald CEO of the MM Group. “Our medium-term objective is to raise the sales volume to the capacity of close to 400,000 tonnes of cartonboard per annum. We are looking forward to a successful cooperation with our new colleagues.”
MM Kotkamills operates a modern virgin fibre board machine (built in 2016), as well as a machine for Saturating Kraft Paper with a capacity of 170,000 tonnes and a sawmill. The mill employs approximately 500 people and generated sales of around €380m in 2020.
