Iggesund Timber has sold its 33 per cent holding in French wood sales company Les Bois de la Baltique to SCA Timber.

The sale, which is part of Iggesund Timber's strategy of concentrating exclusively on redwood sawn timber, generates a capital gain of MSEK 2.

Iggesund Timber, which is Holmen's sawn timber business area, has approximately 100 employees. Its net turnover in 2003 amounted to some MSEK 500.

The Iggesund sawmill has an annual production capacity of 250,000 cubic metres, and its customers are mainly in the Western European joinery and building industries.

For questions, please contact Iggesund Timber's President Håkan Lindh, tel. +46 650 280 00, or
Holmen's CFO Anders Almgren, tel. +46 8 666 21 00.