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2001-12-12

Alters decision on investment at Iggesund Sawmill

Holmen's Board decided on Wednesday to alter the decision made in
December 2000 to invest MSEK 175 in a finishing unit at the sawmill in
Iggesund.

Following this new decision, the sawmilling business will continue in
its present form, while all possible measures will be taken to reduce
costs and improve efficiency.

The decision was made in response to the unsatisfactory profitability of
the Iggesund Timber business area in recent years and the genuine
uncertainty currently prevailing in the Swedish sawmilling industry.

Holmen will now make an in-depth investigation into the cost situation
as well as market and technical conditions, after which a decision will
be made on the future development. The intension is to complete the
sawmill.

For further information, please contact Göran Lundin, President and CEO
of Holmen. Telephone: +46 8 666 21 00.



The Holmen Group

Holmen is a forest industry group that manufactures printing paper, paperboard and sawn timber and runs forestry and energy production operations. The company’s extensive forest holdings and its high proportion of energy production are strategically important resources for its future growth.

Holmen AB

Tel: 08-666 21 00

E-post: info@holmen.com

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