Scaninge and SCA coordinate forestry operations and timber procurement

Scaninge and SCA coordinate forestry operations and timber procurement Graninge and SCA have reached an agreement regarding certain changes in the jointly owned company Scaninge Timber AB. SCA is increasing its share of the capital from 40.6% to 59.4% and Graninge is reducing its share correspondingly. The partners' voting rights in the company will remain 50/50. SCA is paying 70 MSEK for the increased capital interest. Concurrently, through a management agreement with Scaninge, SCA will assume responsibility for the forestry operations on Scaninge's land and increase coordination within the timber procurement area. The measures are intended to secure an improved utilization of the synergies that exist in these areas. Lars Enslöf, Graninge's Managing Director and CEO, gives the following comment: "Around one year ago, we made a decision to sell our forest land, forestry operations and sawmills in order to focus our resources on development of energy operations. The formation of Scaninge was a first step and the change now taking place is a continuation of this process. "At the same time, we have obtained a total of nearly SEK 2.4 billion for our forestry operations including certain tax effects." For additional information, contact: Lars Enslöf, Managing Director & CEO, Graninge, +46 8 753 50 04, +46 70 593 15 46 Kalle Karlsson, Communications Manager, Graninge, +46 8 753 68 60, +46 70 683 43 43 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/18/20010518BIT00880/bit0002.doc http://www.bit.se/bitonline/2001/05/18/20010518BIT00880/bit0002.pdf