Finland’s KaiCell Fibers venture moves another step forward through a private share offering aimed primarily at a core group of regional investors. The company’s ownership base is thus strengthened and further committed to making the Paltamo mill a reality.
As the venture moves closer to realisation, the private offering opens the way for structural changes and for establishing a project organisation. In this context, KaiCell Fibers Oy/Ltd CEO Jukka Kantola steps down in order to focus fully on leading NC Partnering Oy/Ltd. The KaiCell Fibers Board is looking to appoint a new CEO shortly. Hannu Heikkinen steps in as acting CEO, while Eero Suutari continues as Chairman.
Jukka Kantola: ”It has been a rare privilege to be part of making Finnish industrial history, and now seems the right time to hand over to the team that will build the mill. We feel that we have done our part and laid a solid foundation. In this I must give credit to our incredibly motivated and productive team. I feel very confident that the new organisation will have an excellent chance to take KaiCell to a final investment decision.”
As part of the restructuring arrangement, the Arbron textile fibre development project is shifted to NC Partnering Oy/Ltd.