BAKU, Azerbaijan, Feb.5. ITOCHU Corporation
said it has completed a partial sale of its shares in Finnish pulp
maker Metsä Fibre Oy to Metsä Group as it reviewed its capital
involvement amid structural market challenges, Trend reports via
the company.
The Tokyo‑based trading house said Metsä Group, through its
parent Metsäliitto Cooperative, acquired a portion of the equity in
Metsä Fibre from ITOCHU’s wholly owned subsidiary ITOCHU Fibre
Limited, reducing ITOCHU’s stake in the Finnish company. ITOCHU
will remain a committed minority shareholder and continue a
strategic partnership to grow commercial presence in Asia. (Cision
News)
The Japanese general trading company, headquartered in
Minato‑ku, Tokyo, has been steadily expanding its pulp business
since investing in Metsä Fibre in 2012, when it acquired a
significant share in the company through ITOCHU Fibre Limited.
Metsä Fibre is among the world’s largest softwood pulp
manufacturers, with annual production capacity of around 3.9
million tonnes, and ITOCHU has served as an exclusive distributor
of its softwood pulp in key markets. (itochu.co.jp)
In a statement, ITOCHU said recent structural challenges in the
pulp business, including a slowdown in the global pulp market and
sharp rises in raw material costs driven by geopolitical factors,
prompted the review of its capital involvement in the business.
ITOCHU said it will deepen cooperation with Metsä Group as a
strategic partner and focus on expanding the commercial reach of
Metsä Fibre products, particularly in Asian markets, while
exploring additional opportunities for collaboration across the
group.
Founded in 1858, ITOCHU is one of Japan’s leading general
trading companies, with approximately 90 bases in more than 60
countries. It is engaged in a broad range of businesses including
trading of textiles, machinery, metals, energy, chemicals and food,
as well as investment and development activities worldwide.
