M-real (OMXH: MRLAV, OMXH; MRLBV) is trading down a notch this morning as it announced that the divestment process of Reflex Mill’s Premium Papers business to Papierwerke Lenk AG’s sister company has been suspended. M-Real had been expecting to book a 12 million Euro loss as a non-recurring item in Q2 as announced in April 2011.
M-real says that the two companies will evaluate possibilities to continue negotiations at a later date and M-real will also consider alternative divestment possibilities. In the original MOU agreement M-Real was to sell units producing products for high-quality graphical end uses (such as letterhead, brochures, books, calendars and envelopes) and was planning to keep carbonless business at the Reflex mill itself. The divestment was originally supposed to affect 100 employees.
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