KLIPPAN introduce rationalization programme

KLIPPAN introduce a programme of rationalization After having acquired the paper mill Mölndal in Sweden and the operations of Scottish Caldwells during 2002 further possibilities for rationalization exist within the KLIPPAN Group. Consequently, he Board has decided about a programme of rationalization comprising the Swedish mills in Klippan, Lessebo, Mölndal as well as Caldwells in Scotland. The savings are expected at approximately MSEK 35 annually with a total reduction in manning of 103. Negotiations in accordance with the Act on employee participation in decision-making ("MBL") will start shortly. KLIPPAN AB [REMOVED GRAPHICS] Bengt Östensson President/CEO For further information please contact Bengt Östensson, tel 0435 291 01 or mobile 070 595 86 27 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/07/15/20030715BIT00070/wkr0001.doc http://www.waymaker.net/bitonline/2003/07/15/20030715BIT00070/wkr0002.pdf