Definite agreement to acquire Papelera Peninsular now reached

Definite agreement to acquire Papelera Peninsular now reached Holmen has now reached a definite agreement to acquire Papelera Peninsular from the Spanish group Unipapel. The price corresponds to some MSEK 2,000 on a debt-free basis. The acquisition requires the consent of the competition authority. Papelera Peninsular owns a newsprint mill, that was commissioned two years ago and is located just south of Madrid, and two associate companies for collecting recovered paper. The new newsprint machine is currently being brought up to its rated capacity, which, after trimming, will amount to some 200,000 tonnes per year. The entire production is based on recovered paper. Holmen's President and CEO, Per Ericson, comments: "The acquisition is in line with the Holmen Group's strategic direction, which involves growth and development in newsprint and magazine paper. The acquisition will enable us to further consolidate our already strong position as a leading supplier to European newspaper publishers." ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/08/20000608BIT01090/bit0001.doc http://www.bit.se/bitonline/2000/06/08/20000608BIT01090/bit0002.pdf