Investment AB Kinnevik (publ) ("Kinnevik") today announced that the
Boards of Directors of Kinnevik and Korsnäs AB have decided to invest
approximately SEK 640 million in an evaporation plant.
The investment will be initiated immediately and the evaporation
plant is expected to be ready for start up in the autumn of 2010.
Evaporation is a highly energy intensive process and the new plant is
expected to reduce energy costs substantially. In total, the new
investment is expected to result in cost savings of around SEK 130
million on an annual basis with full effect from 2011. The investment
will have an impact on the cash-flow in 2009 and 2010.
For further information, visit www.kinnevik.se or contact:
Christer Simrén, CEO of Korsnäs AB +46 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
Stockholm Stock Exchange's Nordic list for large-cap companies within
the financial and real estate sector. The ticker codes are KINV A and
KINV B.
