LASSILA & TIKANOJA PLC STOCK EXCHANGE RELEASE 26 May 2010 9.00 am
L&T BIOWATTI TO DISCONTINUE ITS WOOD PELLET BUSINESS
L&T Biowatti Oy, a subsidiary of Lassila & Tikanoja plc, will discontinue its
wood pellet business. Construction of a pellet plant in Suonenjoki, Finland, is
almost completed but market situation and difficulties in availability of
suitable raw material have postponed the start-up of the plant. The
construction of the plant will not be completed.
L&T will recognise a non-recurring restructuring cost of EUR 2.9 million for
the second quarter due to the shutdown of operations.
The guidance for net sales and operating profit excluding non-recurring items
of Lassila & Tikanoja group in 2010 remains unchanged.
LASSILA & TIKANOJA PLC
Jari Sarjo
President and CEO
For additional information please contact Ville Rantala, CFO, tel. +358 50 385
1442.
Lassila & Tikanoja specialises in environmental management and property and
plant support services and is a leading supplier of wood-based biofuels,
recovered fuels and recycled raw materials. With operations in Finland, Sweden,
Latvia and Russia, L&T employs 8,700 persons. Net sales in 2009 amounted to EUR
582 million. L&T is listed on NASDAQ OMX Helsinki.
Distribution:
NASDAQ OMX Helsinki
Major media
www.lassila-tikanoja.com