KLIPPAN AB - reduced costs

KLIPPAN AB The work towards lowering costs and reducing losses within KLIPPAN AB is currently considered to be leading to a reduction in staffing levels at the various mills totalling 150 persons. The reduction represents a cost reduction of some MSEK 50. Local negotiations in accordance with the Law on co-determination at work will start shortly at the mills. Ulf Ek, 60, a board member of KLIPPAN AB since 2000, has been appointed acting Mill Manager at Klippan Mill as from 17 November 2003. Ulf Ek has many years of experience from leading positions within Swedish forestry industry. Bo Rosengren will thereby leave his position. As from the year end, the position as Corporate Production Manager will cease and Bjarne Björk will then resign his position. KLIPPAN AB [REMOVED GRAPHICS] Ragnar Quarnström Managing Director For further information please contact Ragnar Quarnström, Managing Director, tel +46 (0)435-291 01. KLIPPAN is a leading producer of speciality graphic papers and operates three paper mills with a combined capacity of 200,000 tons per annum. The mills are located in Klippan, Lessebo and Mölndal, all in the south of Sweden. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/11/18/20031118BIT00140/wkr0001.doc http://www.waymaker.net/bitonline/2003/11/18/20031118BIT00140/wkr0002.pdf