Espoo, Finland 12 January 2017 -- Metsä Group's Wood Products Industry Metsä Wood sells its wood element business located in Pälkäne, Finland, to Lapwall Oy. The transaction is expected to be finalized by the end of January. Personnel of the wood element business will in its entirety transfer to the new owner's payroll.

In connection with the transaction the parties agreed on a multiyear contract concerning Kerto® LVL and spruce plywood deliveries. "Lapwall is an important partner for us, with whom we develop the wood construction ecosystem," says EVP Esa Kaikkonen from Metsä Wood.

The divestment does not have a material financial impact on Metsä Group.