AvestaPolarit to expand Tornio hot rolling mill

AvestaPolarit to expand Tornio hot rolling mill AvestaPolarit's Board of Directors has today decided on a new investment to increase the capacity of the Tornio hot rolling mill from about 1 million tonnes to 1.7 million tonnes per annum. The new investment project will raise hot rolling capacity to match the expanded 1.7 million tonne slab capacity, following the completion of the on-going major expansion program at the Tornio integrated mill. The capability to process all of the expanded slab output into hot band at the site will further strengthen the cost-efficiency of the overall operation and clearly contribute to an optimisation of the material flows within AvestaPolarit's Coil Products business area. The capital expenditure amounts to about EUR 170 million, stretching mainly over 2003-2004. The main components of the investment are three additional rolling stands, which will be installed after the existing hot rolling mill. The new hot rolling capacity is scheduled to be available by the end of 2004. For further information please contact: Niilo Suutala, Senior VP - Tornio Integrated Mill, phone +358 16 452 615 Pekka Erkkilä, President - Coil Products, phone +358 9 5764 5503 Katarina Lybeck, Senior VP - Corporate Communications, phone +358 9 5764 5505 or +358 40 503 0750 AvestaPolarit Corporate Management Linnoitustie 4 A, PO Box 270, FIN-02601 Espoo, Finland. Tel: +358 9 5764 5511, fax +358 9 5764 5555 Vasagatan 8-10, PO Box 16377, SE-10327 Stockholm, Sweden. Tel: +46 8 613 3600, fax +46 8 613 3669 Registered office for AVestaPolarit Oyj Abp: Espoo, Finland. Business ID: 0823312-4 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/04/26/20020426BIT00710/wkr0001.doc http://www.waymaker.net/bitonline/2002/04/26/20020426BIT00710/wkr0002.pdf