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Decision to liquidate A/S Baltic Pulp

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The joint stock company A/S Baltic Pulp was established in 2000 to investigate
opportunities to build a pulp mill in Latvia. The owners of A/S Baltic Pulp are
the Latvian state (33%) and Oy Metsä-Botnia Ab (67%). 


Botnia announced already in November 2006 its proposal to the Latvian
government that the suspended pulp mill project should be discontinued. The
concept of the pulp mill was in the changed circumstances no longer
competitive. 


The shareholders have come to the conclusion that the implementation of the
project is not feasible and made on 6 March 2009 the decision to liquidate the
joint venture company.

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