Cookie settings

We use cookies to provide you with an optimal website experience. These include cookies that are necessary to operate the site, as well as those that are only used for anonymous statistical purposes, for convenience settings or to display personalized content. You can decide for yourself which categories you would like to allow and reset your selection at any time. Please note that depending on your settings, not all functionalities of the site may be available.

For more information, please see our privacy policy.

Notice regarding the transfer of your data collected on this website to third countries:

By clicking on "Confirm All" or "Statistics" and "Confirm Selection" you consent that your data collected on this website will also be processed in the USA in accordance with Article 49 (1) (a) of the General Data Protection Regulation (GDPR). In the USA GDPR does not apply and currently neither an adequate decision pursuant to Article 45 (3) GDPR nor appropriate safeguards according to Article 46 GDPR, including binding corporate rules exist. For example, Google processes this data in the USA. The European Court of Justice assesses the USA as a country with an insufficient level of data protection according to EU standards. In particular, there is a risk that U.S. authorities will process your data for control and monitoring purposes, possibly without any legal remedy. Nevertheless, if you do not select "Statistics" and click "Confirm selection", the transfer described above will not take place.

Technically necessary

These cookies are necessary for the functionality of our website (e.g. technical or security-related aspects). They serve as the operation of the website and make it functionally usable for you. This mainly includes basic functions such as navigation on the website. We cannot run the website correctly without using these cookies. Therefore, their use base upon our legitimate interest, because otherwise we cannot offer a properly functioning website.

The legal basis for the processing of such cookies is Article 6 (1) (f) GDPR.


We use these cookies to improve our offers and our website. For instance, with the help of these cookies we can determine the number of visitors and the effect of certain pages of our website, create statistics and analyses and subsequently optimize our content. Statistics Cookies collect information about how websites are used in order to improve their attractiveness, content and functionality. We use them only with your consent, which you can revoke or reset at any time.

The legal basis for the processing of such cookies is Article 6 (1) (a) GDPR.


We use these cookies to show you personalized content that matches your interests. This includes in particular the videos embedded on our website. We use them only with your consent, which you can revoke or reset at any time.

The legal basis for the processing of such cookies is Article 6 (1) (a) GDPR.

Explanation of cookies:

Cookies are text files that are stored on your end device, such as a PC, tablet or smartphone, when you visit a website with the help of your browser. Cookies consist of technical information that identifies you as a user. So-called session cookies, which are automatically deleted after closing the browser, differ from temporary or permanent cookies, which are stored on your end device for a longer or unlimited period. Cookies ensure that our website is able to identify and recognize the website users when visiting the website with the same device again. Cookies make sure that certain settings and data is provided automatically. Therefore, the information stored in cookies is transmitted either to the website visited ("first party cookie") or to another website to which the cookie set is assigned ("third party cookie").

However, you can select the browser settings to prevent the storage of statistics and personalization cookies. In this case, we will ask you each time when visiting the website whether you agree to the setting of cookies or not. In addition, you can revoke or reset the cookie settings at any time with future effect by reopening the cookie banner on our website or by using your browser settings. To do this, use the help function of your browser and follow the instructions.


Mayr-Melnhof Karton to acquire Kotkamills

09.12.2020 - Innovations / Investments, Company / Mills

Proposed acquisition to strengthen MMK’s position in virgin-fiber based cartonboard.

Mayr-Melnhof Group has agreed to acquire Kotkamills Group Oyj (“Kotkamills”) from its shareholders for an Enterprise Value of around EUR 425 million, representing ca. 7.8x LTM EBITDA. The addition of Kotkamills will grow MMK’s position in the attractive virgin fiber based cartonboard (FBB) and Food Service Board (FSB) market, complementing its established position in recycled fiber based board. The proposed transaction will be immediately accretive to earnings.

Kotkamills operates two board / paper machines at its integrated mill in Kotka (Southern-Finland): a FBB/FSB board machine which started up in 2016 following an investment of more than EUR 180 million with current sales volumes of around 260kt and a planned capacity of 400kt; a Saturated Kraft paper machine with 170kt capacity in which the company is a leading global supplier. Kotkamills employs about 500 people and generates an LTM EBITDA of ca. EUR 55 million on sales of ca. EUR 380 million.

The cash payment will be funded from committed credit lines. The transaction is subject to customary completion conditions and regulatory approval. Closing of the transaction is expected by mid of 2021.  

Strategic Rationale

  • Strengthen Mayr-Melnhof Group’s competitive position in a growing European FBB and FSB market versus the two market leaders 
  • Create a strong second pillar in addition to Coated Recycled Board (RCB) and Coated Liner
  • Benefit from ramp-up of FBB and FSB volumes (from current sales volumes of 260kt to planned capacity of 400kt)
  • Offer barrier coated FSB solutions which can replace plastic and polyethylen-coated board
  • Diversify the business by adding a new product (with Kotkamills’ strong competitive position in high-quality Saturating Base Kraft)
  • Harvest synergy potential

Mayr-Melnhof Group CEO, Peter Oswald, comments: “The acquisition of Kotkamills is an ideal complement to our existing cartonboard business. It strengthens MM’s business model as a dedicated cartonboard and folding carton producer with a reinforced position in virgin fiber based cartonboard which has good growth potential. Kotkamills adds significantly to MM’s sustainability strategy offering innovative solutions for plastic replacement. We have great confidence in the top-class team of Kotkamills to shape a promising future together.”