ROTTNEROS WITHDRAWING FROM INVESTMENT IN ESTONIA
The Rottneros Group has decided not to participate in the financing of the planned Estonian pulp mill AS Estonian Cell. In November 2001 Rottneros signed a Letter of Intent stating that the company was prepared to participate in the project.
- The evaluation of the project that has been done shows that the profit potential of the project is not in proportion to the financial exposure, says Rottneros President Lars Blecko.
The decision not to participate in the project does not imply any costs for Rottneros.
Upplands Väsby 1 October 2002
ROTTNEROS AB (Publ.)
For further information call CEO Lars Blecko, tel. 070-641 49 10
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 880 employees and a turnover of approximately SEK 2.7 billion.