AssiDomän seeks stronger ownership structure for packaging operations
AssiDomän seeks stronger ownership structure for packaging operations AssiDomän's ongoing restructuring is designed to create stronger and more competitive structures. The creation of Billerud and the divestment of operations to Frantschsach are examples of this. Concerning AssiDomäns' present operations, discussions are under way with external parties, either initiated by AssiDomän or by companies that have approached AssiDomän. AssiDomän has previously disclosed that discussions are taking place with parties within sawn timber. AssiDomän can now confirm that discussions have also started for Corrugated & Containerboard. Today, AssiDomän is the third largest supplier of corrugated board and containerboard in Europe and these operations currently comprise the largest part of AssiDomän's industrial activities. In order to further strengthen this position and raise the competitiveness of these units, AssiDomän is discussing various alternative lines of development. Talks are being held with several parties but at present it is too early to say what the results of these will be. AssiDomän's Board previously decided to prepare to split the company into one forestry and one industrial operation and to put forward a proposal to this effect at the 2001 Annual General Meeting at the latest. The discussions now taking place with different parties may affect how such a division will be implemented. If the present discussions lead to a different ownership structure for Corrugated & Containerboard, this will represent one step on the way towards a focused, forest-owning company. Sustainable shareholder value will be the decisive factor for any decision regarding refocusing the Group and the choice of technique for its implementation. AssiDomän AB Corporate Communications 20 November 2000 For further information, please contact: Gunnar Palme, President and CEO, Tel +46 8 6559281 Berit Hallberg, Senior Vice President Corporate Communications, Tel. +46 8 6559106 Peter Månsson, Vice President, Investor Relations, Tel +46 8 6559278 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/11/20/20001120BIT00130/bit0001.doc http://www.bit.se/bitonline/2000/11/20/20001120BIT00130/bit0002.pdf