2003-09-04

Extensive action programme completed

Iggesund Timber inaugurated the new grading department at its Iggesund
sawmill on Thursday. The total investment in the new grading department
- where the sawn timber is quality graded and packed - and storage
facilities for semi-finished and finished products, amounts to MSEK 75.

The unit has been in operation since March. With the new grading
department in production, Iggesund Timber - Holmen's sawn timber
business - has now concentrated all production at Iggesund.

Iggesund Timber has completed an extensive action programme that has
been in progress since the beginning of 2001. The closure of
unprofitable units - including the sawmill in Domsjö, which was finally
taken out of production on 31 July 2001 - and rationalisation at the
sawmill in Iggesund, including the closure of Håstaholmen, have resulted
in considerable improvements in productivity and significantly higher
profitability.

Iggesund Timber's products are mainly used by the joinery industry in
England and Scandinavia. Iggesund Timber is currently one of
Scandinavia's largest suppliers of raw materials for solid redwood
flooring. Other important customers include the turning and the
furniture industries.

The new grading department was inaugurated by Christer Eirefelt, the
County Governor of the County of Gävleborg.

For further information please contact Johan Hedin, President of
Iggesund Timber: +46 650 280 00.



Holmen AB, P.O. Box 5407, SE-114 84 Stockholm, Sweden.

Visiting address: Strandvägen 1, Stockholm.

Tel: +46 8 666 21 00   E-mail: info@holmen.com

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