STOCK EXCHANGE RELEASE 21 Feb 2000
JAAKKO PÖYRY GROUP APPOINTED MAIN DESIGN ENGINEERING CONSULTANT FOR FRANTSCHACH SWIECIE PM5 MODERNISATION PROJECT IN POL
Interpap Sp.z.o.o. in Poland and JP-Engineering Oy in Finland, members of the Jaakko Pöyry Group, have been appointed main engineering consultants for Frantschach Swiecie PM5 modernisation project in Poland. The assignment comprises complete engineering, procurement assistance, cost control and site supervision services. Contract value amounts to approx. EUR 1,3 million.
The PM5 modernisation project will start immediately, and the line is scheduled for start-up by the second quarter of the year 2001.
The capacity of the paper machine will increase from 50 000 t/a to about 138 000 t/a, and the production costs will decrease about 25 % by using OCC instead of virgin kraft pulp. After the rebuild PM5 will produce kraft liner, as well as test liner grades.
The total investment will be about EUR 50 million.
Jaakko Pöyry Group acquired Interpap Sp in June 1999. The acquisition of Interpap Sp is part of the Group's strategy to expand the Forest Industry business group's local office network around the world. The Frantschach assignment is of particular importance, as it is the Group's first major contract in Poland after the acquisition of Interpap Sp.
Established in 1993, Interpap is Poland's leading forest engineering firm. Interpap Sp will also expand its operations into Poland's growing energy market. Interpap Sp has about 40 employees.
JAAKKO PÖYRY GROUP OYJ
Additional information by:
Mr. Pekka Eskelinen, Vice President JP-Engineering Oy,
Tel: +358 9 8947 3636, +358 400 650 909
Stockholm Stock Exchange