Holmen has signed an agreement to sell forest properties in north-west Jämtland, Sweden, for SEK 100 million. The sale is expected to be completed in January 2018. The Group’s earnings will be positively impacted by just over SEK 70 million in the first quarter of 2018 since the sale price exceeds the carrying amount according to IAS 41. With holdings of over 1 million hectares of productive forest land, Holmen is one of Sweden’s largest forest owners. “This forest land is located far from our production facilities and has significant other values than forestry. We intend to reinvest the sales proceeds in forest located closer to our own production facilities,” says Henrik Sjölund, President and CEO of Holmen. Click Read More below for additional information.
Metsäliitto Cooperative’s Supervisory Board has in its meeting on 4 May 2017 appointed M.Sc (Engineering) Ilkka Hämälä the CEO of Metsäliitto Cooperative as of 1 January 2018. Hämälä starts as the President and CEO of Metsä Group on 1 April 2018. Kari Jordan, the President and CEO since 2006, is responsible for Metsä Group’s result until the end of 2017 and will retire on 1 April 2018.
Hämälä has worked for Metsä Group since 1988. Since 2008 he has been the CEO of Metsä Fibre Oy and a member of Metsä Group Executive Management Team.