Ole Salvén to be new CEO at Moelven

Present CEO Bo Borgström will retire 1.2.2005 

Ole Salvén LLB (51) has been appointed President and CEO of Moelven Industrier
ASA with effect from 1.2.2005. Moelven's present President and CEO, Industrial
Counsellor Bo Borgström, who is also Deputy President and Deputy CEO of
Finnforest Corporation, will be retiring. Moelven is Finnforest's biggest
subsidiary and is responsible for all the Corporation's activities in Norway,
Sweden and Denmark. 

Mr Salvén is currently Finnforest's Director for Continental Western Europe,
and has held a number of leading management positions in Finnforest and already
in its predecessor company. In 1994 he took up the post of Financial Director
in the corporate management at Düsseldorf. From 1997 to 2001 he was Managing
Director of Finnforest UK in London, and he has been a member of Finnforest
Corporation's Management Board since 1999. He has also been responsible for
Finnforest's company acquisitions in France, Germany, Belgium and the UK, and
for their integration into the Finnforest group. 

Ole Salvén had a long career in international banking before joining
Finnforest, including service with Bank of America in Germany, the UK and the

His first language is Swedish and he also speaks another Scandinavian language,

Starting 1.2.2005 Ole Salvén will be located at Moelv, Norway.

Further information:

Ari Martonen, President and CEO, Finnforest Corporation, phone +358 50 2406 
Bo Borgström, President and CEO, Moelven Industrier ASA, phone +47 99 105 200
Ole Salvén, Director, Continental Western Europe, Finnforest Corporation, 
phone +44 7710998727
Markko Ihamuotila, Director, Marketing and Communications, Finnforest
Corporation, phone +358 50 598 7014

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