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Metsa Board to sell 30% in pulp mill to focus on paperboard

(Reuters) - Finnish forest company Metsa Board said on Tuesday it will sell 30% stake in a pulp mill in Husum, Sweden, to Norra Skog to focus on its paperboard business.

The company said it plans to use the cash released by the sale, valued at 350 million euros ($420 million), to develop investments in paperboard.

“This provides an excellent platform to grow our core business - sustainable and high-quality fresh fibre paperboard,” said chief executive Mika Joukio.

($1 = 0.8351 euros)

Reporting by Boleslaw Lasocki in Gdansk. Editing by Jane Merriman

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