Kotkamills Group Oyj
STOCK EXCHANGE RELEASE
2 July 2018, at 7:00 pm (CET + 1)
Kotkamills Oy and Kotkamills Absorbex Oy, subsidiaries of Kotkamills Group Oyj, have signed a long term service contract with Adven, a supplier of tailored corporate energy and water solutions, concerning improvement of the evaporation process in the Group's Kotka pulp mill.
The service includes adding new evaporators and replacing obsolete parts of the existing evaporation plant of the pulp mill.
The service will improve Kotkamills energy efficiency significantly by reducing the energy consumption in the evaporation of black liquor in the pulp production process, decrease environmental emissions and enable future production capacity increases of the pulp mill.
The service agreement will be implemented in two phases, the first phase is estimated to be operational in September 2019 and the new evaporation plant fully operational in September 2020. The service contract will be valid until 2035.
The service contract is estimated to have a positive impact on the profitability of Kotkamills Group.
Kotkamills Group Oyj
Board of Directors
For additional information, please contact:
CFO Petri Hirvonen, tel.+358 40 571 0834, firstname.lastname@example.org
Nasdaq Helsinki Ltd
Kotkamills Group in brief
Kotkamills is a responsible partner that delivers renewable products and performance to its customers' processes via product innovations created from wood, a renewable raw material. One of the key brands of the company include Absorbex® an innovative laminating paper product for the laminate, plywood and construction industries. Moreover, Kotkamills offers ecological, technically sound and visually attractive wood products for demanding joinery and construction. In summer 2016, Kotkamills started up a new board machine producing AEGLE(TM) Folding Boxboard and ISLA(TM) Food Service Boards, including the capability to add barriers on-machine. All Consumer Board material solutions are fully recyclable and repulpable.
Kotkamills has two production sites in Finland, located in Kotka and Imatra. The majority shareholder of Kotkamills is MB Funds, a Finnish private equity firm.
The information contained in this release shall not constitute an offer to sell or the solicitation of an offer to buy securities of Kotkamills Group Oyj in any jurisdiction.