Holmen to invest MSEK 75 in Iggesund Sawmill

Holmen to invest MSEK 75 in Iggesund Sawmill The Board of Holmen has decided to complete the Iggesund Sawmill by investing MSEK 75 in a new wood sorting unit with the object of significantly improving the sawmill´s profitability. The investment will replace the previously announced finishing unit, the cost of which was estimated at MSEK 175. The new unit is expected to be brought into production at the end of the current year, at which time Iggesund Timber will discontinue its activities at Håstaholmen in Hudiksvall. As a consequence of this investment and the plans to discontinue the activities at Håstaholmen, Iggesund Timber will open negotiations pursuant to the Swedish Co-Determination at Work Act on reductions in the work force. For further information, please contact Johan Hedin, President of Iggesund Timber. Telephone +46 70 211 08 56. Holmen AB (publ) · Group Public Relations · P.O. Box 5407 · SE-114 84 Stockholm · Sweden Tel: +46 8 - 666 21 00 · Direct: +46 8 - 666 21 15 · Fax: +46 8 - 666 21 30 E-mail: info@holmen.com · www.holmen.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/03/07/20020307BIT00940/wkr0001.doc http://www.waymaker.net/bitonline/2002/03/07/20020307BIT00940/wkr0002.pdf