Kotkamills Group Oyj: KOTKAMILLS HAS SIGNED A CONTRACT CONCERNING SALE OF TRADE RECEIVABLES
Kotkamills Group Oyj
STOCK EXCHANGE RELEASE
2 September 2016, at 6:30 pm (CET + 1)
Kotkamills Oy, the subsidiary of Kotkamills Group Oyj, has signed a contract of approximately EUR 20 million with a Nordic financial institution concerning sale of trade receivables of the company to the financial institution (on an ongoing, non-recourse basis on customary market terms). This transaction is expected to reach its full effect by the end of Q1 2017. Together with 20.5.2016 informed contract Kotkamills Oy will obtain aggregate financing of approximately EUR 40 million by sale of trade receivables.
Kotkamills Group Oyj
Board of Directors
For additional information, please contact:
CFO Petri Hirvonen, tel.+358 40 571 0834, email@example.com
Nasdaq Helsinki Ltd
Kotkamills Group in brief
Kotkamills is a responsible partner that delivers renewable products and performance to its customers' processes via product innovations created from wood, a renewable raw material. The key brands of the company include Absorbex® and Imprex®, both innovative laminating paper products for the laminate, plywood and construction industries. Moreover, Kotkamills offers ecological, technically sound and visually attractive wood products for demanding joinery and construction. In summer 2016, Kotkamills started up a new board machine producing AEGLE(TM) Folding Boxboard and ISLA(TM) Food Service Boards, including the capability to add barriers on-machine. All Consumer Boards material solutions are fully recyclable and repulpable.
Kotkamills has two production sites in Finland, located in Kotka and Imatra, and a subsidiary L.P. Pacific Films for Imprex® production in Malaysia. The majority shareholder of Kotkamills is MB Funds, a Finnish private equity firm.
The information contained in this release shall not constitute an offer to sell or the solicitation of an offer to buy securities of Kotkamills Group Oyj in any jurisdiction.