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Botnia pulls out the Latvian pulp mill project

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Oy Metsä-Botnia Ab has proposed to the Latvian government that A/S Baltic Pulp
and the suspended pulp mill project should be discontinued. The concept of the
pulp mill planned years ago is no longer competitive. 


A/S Baltic Pulp is jointly owned by Botnia and the state of Latvia. The task of
A/S Baltic Pulp, established in 2000, was to investigate opportunities to build
in Latvia a pulp mill producing 600,000 tons and costing about EUR 900 million. 

The owners of A/S Baltic Pulp are the Latvian state (33%) and Oy Metsä-Botnia
Ab (67%). Botnia is also ready to sell its shares in A/S Baltic Pulp. 

For additional information: Director Jukka Laitinen, +358 1046 95101.

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