Fortum divests its share in Jyväskylän Energiantuotanto Oy

Fortum Corporate
Stock exchange release                                                          
22 October 2008 at 8.00 EET                                                     

Fortum divests its share in Jyväskylän Energiantuotanto Oy                      

Fortum and Jyväskylän Energia (JE) have signed a contract according to which    
Fortum will sell its 60% ownership in Jyväskylän Energiantuotanto Oy (JYT) to   
JE. Currently, JE owns 40% of JYT. Fortum sells its stake for approximately EUR 
40 million. Also the land on which the power plant is located on and all        
business operations related to the shares will be sold to JE. The sales gain    
from the transaction will be booked in Fortum's 2008 fourth quarter financial   
result. The transaction will take effect on 1 January 2009.                     

Jyväskylän Energiantuotanto Oy produces and sells heat and electricity to its   
owners according to the owners' agreement. The company's electricity production 
capacity is 115 megawatts (MW), district heating capacity 610 MW and steam      
production capacity 110 MW.                                                     

The divestment is part of the business development programme of Fortum's Heat   
segment aiming at ensuring long term profitability of the segment.              

Majority of the local power plant's Fortum employees, around 70 persons, will   
transfer to JYT.                                                                


Fortum Corporation                                                              
Maria Romantshuck                                                               
SVP, Corporate Communications                                                   

Additional information: Timo Karttinen, SVP, Corporate Development, Fortum      
Corporation, +358 50 453 6555

About Us

Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 9,000 professionals in the Nordic and Baltic countries, Russia, Poland and India. In 2017, our sales were EUR 4.5 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com

Subscribe