KYRO SIGNS AGREEMENT ON POTENTIAL SALE OF ENERGY BUSINESS
Kyro Corporation STOCK EXCHANGE RELEASE 29 September 2006, 4.00 p.m.
KYRO SIGNS AGREEMENT ON POTENTIAL SALE OF ENERGY BUSINESS Kyro Group has with M-real Corporation signed an agreement, according to which Kyro has the right to sell its energy business operations to M-real as well as real-estate to M-real and Metsäliitto Group in the summer of 2007. The precondition for realising the transaction is that either Kyro or M-real demands that they are carried out. The potential business operations transaction would include Kyro Power's gas- fired power plant and its business. The personnel of the plant would be transferred to the buyer in connection with the sale. The potential real-estate transactions cover the land areas that Kyro has leased out to M-real and Metsäliitto Group in Hämeenkyrö. The agreement signed today has no immediate financial effect. If the business operations transaction according to the agreement is carried out in 2007, its financial effect is estimated to be realised in phases in 2007-2012 and to be dependent on the general development of the energy markets. The parties are continuing more in-depth negotiations on the detailed contents of the potential business operations transaction. Kyro Power Oy is a wholly-owned subsidiary of Kyro Corporation. Kyro Power consists of a gas-fired combi power plant that produces heat, steam and electricity mainly for industrial purposes. Tampere, 29 September 2006 Kyro Corporation Pentti Yliheljo President & CEO Further information: Kyro Group Corporate Planning Director Esko Rantala, tel. +358 40 517 5953 Kyro Corporation, IR & Communications Manager Emmi Watkins, tel. +358 400 903 260 Kyro Corporation is a financially solid, growing and international technology group. The Glass Machinery Group, a part of Kyro's main business area, Glaston Technologies, is the global market leader in glass processing machines. Glaston Technologies' Glass Processing Group is the leading supplier of comprehensive architectural glass solutions in Finland and neighbouring areas. The Group's Energy business consists of the environmentally friendly, local energy producer Kyro Power. www.kyro.fi, www.glaston.net Distribution: Helsinki Exchanges, key media