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.