Iggesund Timber sells shares in French wood sales company

Iggesund Timber sells shares in French wood sales company Iggesund Timber has sold its 33 per cent holding in French wood sales company Les Bois de la Baltique to SCA Timber. The sale, which is part of Iggesund Timber's strategy of concentrating exclusively on redwood sawn timber, generates a capital gain of MSEK 2. Iggesund Timber, which is Holmen's sawn timber business area, has approximately 100 employees. Its net turnover in 2003 amounted to some MSEK 500. The Iggesund sawmill has an annual production capacity of 250,000 cubic metres, and its customers are mainly in the Western European joinery and building industries. For questions, please contact Iggesund Timber's President Håkan Lindh, tel. +46 650 280 00, or Holmen's CFO Anders Almgren, tel. +46 8 666 21 00. Holmen is a forest products industry group with the capacity to produce 2.4 million tonnes of paper and paperboard per year. The EU countries, which account for some 90 per cent of the Group's turnover, are by far the largest market. Holmen Paper produces paper for daily newspapers, magazines, directories and advertising matter at three Swedish mills and one Spanish mill. Iggesund Paperboard produces paperboard for packaging and graphic purposes at two Swedish mills and one English mill. Iggesund Timber produces sawn timber at one Swedish sawmill. Holmen Skog manages the Group's one million hectares of forests and the annual volume harvested from company forests is some 2.5 million cubic metres. Holmen's annual wood consumption is some 4.5 million cubic metres. Holmen Skog's earnings are largely generated by the sale of wood harvested in company forests. Holmen Kraft produces in a normal year some 1,100 GWh of electric power at wholly and partly owned hydroelectric power stations in Sweden. Holmen's annual power consumption is some 4,200 GWh. Holmen Kraft's earnings are largely generated from the production of electric power by wholly and partly owned hydroelectric power assets. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/05/18/20040518BIT21030/wkr0006.pdf Iggesund Timber sells shares in French wood sales company http://www.waymaker.net/bitonline/2004/05/18/20040518BIT21030/wkr0008.doc