208 to lose job as Metsä closes Tako board mill

A total of 208 employees will lose job as Finnish forest industry company Metsä will permanently close Tako board mill in Tampere.

Metsä Board has concluded the codetermination negotiations that began in January in this regard, said the company in a press release on Monday.

"The change negotiations with the personnel were conducted in a constructive spirit. Finding new jobs for the people being laid off is our primary goal, and we also aim to help with employment by offering reemployment training and support," Chief Executive Officer of the company Mika Joukio said.

Production at the Tako board mill is planned to end by the end of the second quarter of 2025 at the latest.

The closure of the mill will not affect customer deliveries, as Metsä Board's total annual folding boxboard production capacity is sufficient to meet current demand, said the company.

After the mill closure, Metsä Board's annual folding boxboard capacity will be approximately 1.4 million tonnes.

Metsä Board estimates that the measures now decided will improve the annual comparable EBITDA by approximately EUR 30 million, mainly from the second half of 2025.

A one-off profit impact of about EUR 28 million will be recorded in connection with the closure of the Tako mill, mainly related to the impairment of assets.

It will be recorded in Metsä Board's operating result for the first quarter of 2025 as an item affecting comparability. The one-off cash impact is about EUR one million.