Metsae Tissue Corporation
Metsae Tissue to launch SAGA baking and cooking paper production in Dueren, Germany
Metsae Tissue Corporation 27.10.2010 09:08 --------------------------------------------------------------------------- Following up the Memorandum of Understanding (MoU) signed on 16 June 2010, Metsae Tissue Corporation, a leading tissue and cooking paper supplier, has signed an agreement to buy a paper machine (PM5), related real estate and certain infrastructure assets at M-real Corporation's mill located in Dueren, Germany, for approximately EUR 10 million. As part of the deal, 74 employees will transfer to Metsae Tissue. The transaction is expected to close at the beginning of November. Metsae Tissue plans to launch production of baking and cooking paper products with the newly acquired paper machine during the first half of 2011 following a stepwise technology transfer and rebuilding project. Both the facilities and processes will meet the most stringent hygiene criteria required for products with food contact applications. The company's Baking & Cooking offering is sold and marketed world-wide under the SAGA brand. 'The mill's close proximity to our main markets as well as rising synergies with our other nearby production and warehousing locations will further improve our product availability and service,' says Hannu Kottonen, Metsae Tissue's CEO. 'Unfortunately, as a result of the decision to acquire capacity in Germany, the oldest paper machine in Maenttae will be closed, resulting in a personnel reduction,' Kottonen continues. 'The technology at the German site will also enable long-term quality enhancements as well as new product and category development for our SAGA brand. We aim to capture future market growth in the Baking and Cooking business with an innovative offering and second-to-none service and supply reliability,' says Raija Moro, Senior Vice President, Baking and Cooking Business Area. Both Metsae Tissue and M-real are part of Metsaeliitto Group. For further information, please contact: Hannu Kottonen, CEO Tel. +358 (0) 1046 54959 Email: hannu.kottonen@metsatissue.com Raija Moro, SVP, Baking & Cooking Tel. +358 (0) 1046 47610 Email: raija.moro@metsatissue.com Marja-Leena Dahlskog, Communications Manager Tel. +358 (0)1046 55149 Email: marja-leena.dahlskog@metsatissue.com Metsae Tissue is a leading tissue paper products supplier to households and large-scale consumers in Europe. We are also the world's leading supplier of baking and cooking paper products. Our main brands are Lambi, Serla, Mola, Tento, Katrin, Fasana and SAGA. We have 3150 employees and production based in Finland, Germany, Poland, Russia, Slovakia and Sweden. Our turnover is EUR 890 million. Metsae Tissue is part of the Metsaeliitto Group. SAGA is a high-quality brand for consumers and professionals in the baking and cooking markets globally. With its smart, user-friendly features, SAGA makes it easy and inspiring to prepare, cook and serve tasty and healthy food. The SAGA offering consists of multipurpose food-grade and greaseproof cooking and baking papers. SAGA is a registered trademark of Metsae Tissue, the world's leading supplier of cooking papers. News Source: NASDAQ OMX 27.10.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Metsae Tissue Corporation FI Phone: Fax: E-mail: Internet: WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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