LÄNNEN TEHTAAT ACQUIRES KEMIRA GROWHOW'S MINORITY SHAREHOLDING IN SUOMEN REHU LTD
Lännen Tehtaat plc and Kemira GrowHow Oyj have today signed a sales contract for
the sale of Kemira GrowHow Oyj's shares in Suomen Rehu Ltd to Lännen Tehtaat plc.
The shares, representing 12.14% of Suomen Rehu Ltd's share capital, will be
transferred to Lännen Tehtaat plc on December 31, 2004. Following the deal,
Lännen Tehtaat plc will own the entire capital stock of Suomen Rehu Ltd.
The share purchase simplifies the structure of the Lännen Tehtaat Group and
enables the adoption of common operating methods and practices within the Group.
The Lännen Tehtaat Group consists of the Food Division and the Agricultural
Division. Its consolidated net turnover in 2004 will be approximately EUR 470
million. Suomen Rehu Ltd, which is part of the Agricultural Division, is the
market leader in Finland's animal feeds sector. The Suomen Rehu Group's net
turnover is about EUR 190 million and it employs a total of 325 people. In
addition to Finland, the Suomen Rehu Group has operations in the Baltic States,
Sweden and Russia.
LÄNNEN TEHTAAT PLC
President & CEO
More information: Erkki Lepistö, President & CEO, tel. +358 2 8397 4001
Helsinki Stock Exchange