In September 2022, Metsä Board announced the start of pre-engineering for a new folding boxboard mill in Kaskinen, Finland. This included technical design, design of infrastructure and logistics solutions, tendering for the main equipment as well as financial analysis of the project. The pre-engineering also included an environmental impact assessment and an application for an environmental permit.

Now that pre-engineering has been completed, Metsä Board has decided not to proceed with the investment in the Kaskinen folding boxboard mill. The total cost of the planned investment was significantly higher than originally estimated, meaning that the targets for payback time and return on capital employed would not have been met. Metsä Board will write down the costs of the pre-engineering, in total approximately EUR 8 million, treated as an investment, as an item affecting comparability in the January-March 2024 operating result.