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Bo Borgström appointed as CEO of Moelven Industrier ASA

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20.06.02


The Board of Directors of Moelven Industrier ASA, Finnforest's Norwegian
subsidiary, has appointed Director for Market Area Scandinavia 

Bo Borgström as the new CEO of Moelven. The Board of Directors has agreed to
accept the resignation of CEO Frode Alhaug, who tendered his resignation
yesterday, 19 June 2002, he will give up his post with the company as of 1 July
2002. 

Bo Borgström, M.Sc. (Economics and Statistics), is well experienced in
strategic management in the Finnish forest products industry. He joined
Finnforest from the Finnish Forest Industries Federation in 2000. Previously,
he has worked for Tampella Oy, Tampella Forest Oy and Enso Timber. He is
currently President of the European Confederation of Woodworking Industries
organisation CEI-BOIS. 

Finnforest Corporation took a majority shareholding in Moelven Industrier ASA
in May 2001 and today owns about 61% of Moelven shares. 

Further information:
Chairman of the Board of Directors of Moelven Industrier ASA, Runar Lillandt
+ 358 50 5989200

President and CEO Ari Martonen, Finnforest Corporation, 
phone: +358 9 1046 94870, mobile: +358 50 2406

Senior Vice President Bo Borgström, Finnforest Corporation, 
mobile phone: +358 500 14 311

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