ACQUISITION OF ROCKHAMMARS BRUK
Investment AB Kinnevik today announced that Korsnäs AB has acquired
Rockhammars Bruk from Rottneros AB for a total consideration of SEK
145 million.
Rockhammars Bruk in Lindesberg produces chemical pulp, CTMP, and has
a production capacity of 60,000 tonnes annually. The mill has applied
for environmental permission to increase the yearly production to
90,000 tons. Following the acquisition of Rockhammars Bruk, Korsnäs
will be largely self-sufficient in pulp for its entire production of
paper and cartonboard, which is expected to reduce production costs.
The transaction is subject to approval by relevant competition
authorities and is expected to be finalised before the end of March."I am very pleased to welcome Rockhammars Bruk into the Korsnäs
family. The acquisition makes us largely self-sufficient in pulp
including CTMP, which Rockhammar produces. The opportunity to add
investments such as this one to the profit enhancement programme
which is under implementation in Korsnäs reduces our production
costs, makes us independent of the development on the pulp market
and will contribute to a stable and competitive future for Korsnäs.
This is an important step towards our long-term goal of an operating
margin above 10%," says Christer Simrén, CEO of Korsnäs.
For further information, visit www.kinnevik.se or contact:
Christer Simrén, CEO Korsnäs AB +46 (0)26 15 10 00
Torun Litzén, Director Investor Relations +46 (0)8 562 000 83
+46 (0)70 762 00 83
Investment AB Kinnevik's objective is to increase shareholder value,
primarily through net asset value growth. The Parent Company manages
a portfolio of investments focused around three comprehensive
business areas; Major Listed Holdings which includes Millicom
International Cellular, Tele2, Modern Times Group MTG, Metro
International and Transcom WorldWide, Major Unlisted Holdings which
includes the cartonboard and paper company Korsnäs, and New Ventures
which is active in finding new investments in small and mid sized
companies which has a significant growth potential. Kinnevik plays an
active role on the Boards of its holdings.
Investment AB Kinnevik's class A and class B shares are listed on the
Nasdaq OMX Stockholm's Nordic list for large-cap companies within the
financial and real estate sector. The ticker codes are KINV A and
KINV B.
