ECONOMY MEASURES AT VALLVIK DECREASE BY TEN EMPLOYEES

After negotiations with the local unions, Vallviks Bruk AB, a daughter company of Rottneros AB, have agreed on a personnel reduction from 204 to 193 employees. The decrease will be effected by way of regular and agreed retirements.

The purpose of the reduction in personnel is to diminish the effect of cost increases and is part of a cost reduction program all over the company.

- The reduction personnel will be possible to implement without redundancies as vacancies are not filled and remaining work being distributed among remaining employees, says CEO Lars Blecko. Through cost savings activities all over the group we will maintain our competitiveness.

Upplands Väsby 2004-01-28

Lars Blecko

Further information: Lars Blecko, President and CEO, +46 (0)70-641 4910

Rottneros is one of the world’s leading independent manufacturers of market pulp. The Group consists of the parent company, Rottneros AB, which is listed on the Stockholm Stock Exchange, along with its subsidiaries of Rottneros Rockhammar AB, Utansjö Bruk AB and Vallviks Bruk in Sweden as well as Rottneros Miranda, S.A. in Spain, with activities involving production and sales of market pulp, Rockhammar Timber AB, which produces and sells sawn timber, plus the raw materials purchasing company of Rottneros Baltic SIA in Latvia. The Group has a total of 864 employees and a turnover of approximately SEK 2.5 billion.