Metsäliitto cooperative undertakes the forest Board's plan share issueThe forest Group, a Stock Exchange release 10.12.2014 at 13.00The forestry Group belonging to the Forestry Board has today told the Stock Exchange release plans for completing the restructuring of the company's Board and break away altogether from the profitable production of low paper. The company will invest EUR 170 million in a new factory in Husum, Sweden's computer and plans to discontinue paper production at the factory by the end of the year 2017 as well as launching new measures to eliminate losses from the shutdown of the paper mill, located in Germany. At the same time, the forest Board announced their participation in the forest Fibren Ääneskoskelle biotuote designed by the factory for the financing of up to EUR 30 million in capital. A final decision on the construction of the biotuote factory is supposed to do in the spring of 2015. The Forestry Board's goal is to fund the envisaged measures in the area of the current cash resources, the operational cash flow at all times by, and possibly also the Board of Directors to get anti power on approximately 100 million euros of the rights issue, which aims to take in the first quarter of the year 2015. The Forestry Board's majority owner, Metsäliitto cooperative is committed to participate in a potential issue in accordance with the holding to about 43 million euros.
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