Finnforest and Sinex enter into cooperation agreement

16/06/2004

Finnforest Corporation and Finland's Sinex Oy have made an agreement to
cooperate in the design and production of special modular house building
elements that are suitable for the construction of bathrooms and other areas
susceptible to moisture. Hartola municipality is having a factory building
constructed for Sinex to manufacture damp-proof building elements right next
door to Finnforest's new modular house factory. Production will start up at the
turn of the year, employing about 35 people. 

Finnforest will be an important customer for these building elements. The two
companies are aiming at long-term cooperation in developing innovative building
solutions for rooms that are liable to become wet, such as bathrooms,
shower-rooms and saunas. They also intend to develop a range of models for
rooms of this type that would be suitable for incorporating in single-family
modular houses. 

Finnforest's new unit for the industrial production of modular buildings will
be ready in Hartola in the autumn. It will supply housing modules sufficient
for the construction of about 1,000 houses a year. The number of people
employed by the plant will rise gradually from about 50 up to 100, and it will
also provide work for an approximately equal number of people employed by
subcontractors and alliance partners. 

Finnforest has also concluded other cooperation agreements concerning such
areas as heating, plumbing, ventilation and electricity installation and
planning, floor and wall coatings, and furnishings. These agreements, too, have
an important impact on employment. 

Further information:
Heikki Pietiläinen, Director, Modular Houses Business Unit, Finnforest
Corporation, phone +358 50 381 9369 
Tuomo Nikkinen, Managing Director, Sinex Oy, phone +358 40 543 2959