Metsä Board Sells Hangö Stevedoring in Finland to Euroports

Dec. 21, 2021 - Metsä Board and Euroports have signed an agreement on 16 December 2021, according to which Metsä Board will sell the entire share capital of its fully owned subsidiary Oy Hangö Stevedoring Ab to Euroports Finland Oy.

Hangö Stevedoring is a port operator in the Port of Hanko and its business is not part of Metsä Board's core business.

The parties have mutually agreed that the transaction price will not be disclosed.

Hangö Stevedoring has around 180 employees and its sales in 2020 were approximately EUR 20 million. The company is the largest provider of cargo handling services in Hanko and has a wide customer base, including Metsä Board.

“We are very excited to join Euroports,” says Petteri Sammalisto, Managing Director of Oy Hangö Stevedoring Ab. “We are looking forward to identify several shared opportunities between the companies and look forward to bringing the enhanced service offering to our customers.”

Euroports Finland is a leading port operator in Finland. The company is part of Euroports Group, one of the largest port-infrastructure companies in Europe, with around 3,000 employees worldwide and approximately 600 in Finland.

The transaction is expected to be completed in the first quarter of 2022.

SPOURCE: Metsä Board and Hangö Stevedoring