M-real Corporation Stock Exchange Bulletin 30.6.2006 at 13.45 p.m.
M-real
has sold today the Pont Sainte Maxence paper mill in France to
a German
company Arques Industries. The sale of the mill causes about
EUR 35 million
sales loss which is booked in the result of the second
quarter.
The annual
capacity of the Pont Sainte Maxence mill is 120,000 tons
and it employs 200
people. As a result of the transaction M-reals
turnover will be decreased by
about EUR 70 million.
In addition, an efficiency programme has been started
at the French
Alizay paper mill, as a result of which the number of personnel
at
the mill will be reduced by about 100 persons. The non-recurring cost
of
EUR 13 million arising from this weakens the result for the
second
quarter.
The profitability of our French mills has been for a long
period at
a very unsatisfactory level. The efficiency programme at Alizay
and
the sale of Pont Sainte Maxence will have a positive effect on M-
reals
result in the future, says Hannu Anttila President and CEO.
According to
Hannu Anttila M-real has now achieved the savings
objective of EUR 200 million
set for the savings programme launched
in the spring of 2004. Planning of new
savings programmes is already
in progress.
M-REAL
CORPORATION
Corporate Communications
For further information please
contact Hannu Anttila, President and
CEO, tel. +358 10 469 4343 or +358 50
2398
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