Kemiart Liners to be wholly owned by M-real

M-real Corporation has acquired Metsliitto Cooperative and UPM-Kymmene's stakes – a total of 53 per cent – in Kemiart Liners Oy. The purchase price of the shares is about EUR 13 million and additionally M-real's interest bearing net debt will increase by about EUR 23 million. As a result, Kemiart Liners will become wholly owned by M-real. Oy Mets Botnia Ab's Kemiart Liners business was formed into a company in April 2002 under the ownership of M-real, UPM-Kymmene and Metsliitto Cooperative. At the time, the shareholders agreed to work out the final ownership structure for Kemiart Liners by the end of 2004.Kemiart Liners is one of the world's leading producer of coated white-top kraftliner. The mill has an annual capacity of 340,000 tons and it employs approximately 150 people.