Construction work starts on Europe's tallest wooden office building

16/06/2004

Finnforest acts both as developer and as supplier of wood structures and
component parts. 

Finnforest's Modular Office project is going ahead on schedule, and work
started on the groundwork and laying the foundations 10.6.2004. Finnforest
Corporation is responsible for the supply and installation of the wood
structures, components and cladding, and for the functionality of the whole
building. The building was designed by Helin & Co Architects, whose “Sydänpuu”
(“Heartwood”) proposal won the special architects' competition arranged to
design the office in September 2003. 

Building permission for the five-storey 8,000 square metre office building was
obtained from the City of Espoo quite rapidly, already at the end of April, and
it came into effect 5.6.2004. The commercial agreement for the site was signed
with the City of Espoo 10.6.2004. 

The office site is being developed by Kiinteistö Oy FMO. According to the
investment agreement, when the building is finished the entire share capital
will be transferred from Finnforest's ownership to the Tapiola Group's
indemnity and pension insurance companies. Finnforest Corporation will then
become one of the office tenants. 

When it is finished, in spring 2005, the building will be the tallest wooden
office building in Europe. It is located in the Hakalehto area of Tapiola in
the City of Espoo. 

Further information:
Lauri Palojärvi, Senior Vice President, Director of Building and Construction,
Finnforest Corporation, phone +358 500 507 447 
Markko Ihamuotila, Senior Vice President, Director of Marketing and
Communications, Finnforest Corporation, phone +358 50 598 7014 
Hannu Ronkainen, Managing Director, Kiinteistö Oy FMO, phone +358 50 5594 797