LÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE March 10, 2005 at 12.30
SUOMEN REHU BUYS MILDOLA
Suomen Rehu Ltd, which is part of the Lännen Tehtaat Group, has today purchased
65 per cent of the share capital of the food company Mildola Oy. The purchase
price of the shares acquired by Suomen Rehu Ltd was EUR 3.9 million. Suomen
Rehu's ownership of Mildola stood at 17.5% before the deal and is now 82.5%. The
share capital was purchased from Unilever Finland Oy, Inex Partners Oy, Eka-
kiinteistöt Oy and the SOK Corporation. The remaining 17.5% of Mildola's shares
are held by Maatalouskesko Oy, as a minority shareholder. The deal is subject to
the approval of the competition authorities.
Mildola Oy is Finland's leading manufacturer of vegetable oils produced through
pressing. Mildola provides its domestic and international customers with refined
vegetable oils and protein feed produced from rapeseed and soya. There are 38
people working for the company at Kantvik in Kirkkonummi.
Mildola's net turnover in 2004 was EUR 41 million, its operating profit before
depreciation was EUR 2.4 million and its profit before appropriations and taxes
EUR 0.7 million. The trade value of Mildola's total share capital (100%) is EUR 6
million, and its net asset value at December 31, 2004 was EUR 12.5 million. The
company's net interest-bearing liabilities at December 31, 2004 were EUR 0.8
million. The accumulated depreciation in excess of plan includes deferred tax
liability of EUR 2.4 million.
Mildola fits naturally into the business operations of Lännen Tehtaat's Food and
Agricultural Divisions. Mildola is a significant buyer of Finnish rapeseed. The
company's most important products are refined vegetable oils for consumers and
companies in the food industry. Suomen Rehu Ltd, as a buyer of rapeseed cake and
soya bean meal (both by-products from Mildola's food manufacturing process), is
the company's single largest customer. The acquisition of Mildola Oy by the
Lännen Tehtaat Group will increase Lännen Tehtaat's annual net turnover by more
than EUR 20 million. The deal will have no essential effect on Lännen Tehtaat's
profit in 2005.
LÄNNEN TEHTAAT PLC
Erkki Lepistö
CEO
More information: Erkki Lepistö, tel. +358 10 402 4002
Distribution:
Helsinki Stock Exchange
Principal media
www.lannen.fi
