Raute - Changes board/management/auditors

Change in Raute's Executive Board

Nastola, Finland, 2012-10-25 07:45 CEST (GLOBE NEWSWIRE) -- RAUTE CORPORATION
STOCK EXCHANGE RELEASE OCTOBER 25, 2012 at 8:45 a.m. 


CHANGE IN RAUTE'S EXECUTIVE BOARD

The President of Raute's North American companies, Mr. Bruce Alexander,
resigned from the Raute Group on October 24, 2012. The North American
operations have been integrated with Technology Services, headed by Group Vice
President Mr. Petri Lakka. 

In all other respects the business and operations of Raute in North America
continue as previously. Raute's North American business facilities are located
in Delta, BC, Canada in the Vancouver area and employ approximately 50 people.
The operations moved into new facilities at the end of 2010, and at the same
time production and service capabilities were developed to comply with the
North American demand focusing on technology services. Key technology for
Raute's North American projects is supplied by the Nastola unit. 

North America is, after China, the second largest plywood production area in
the world. Roughly 11 million cubic meters of plywood were produced in North
America in 2010, representing around 14 percent of the global plywood
production. North America is clearly the largest LVL production area and
market. North America's share of Raute's net sales in 2011 was EUR 6.1 million
and 8 percent. 


RAUTE CORPORATION
Tapani Kiiski
President and CEO


FURTHER INFORMATION:
Mr.Tapani Kiiski, President and CEO, Raute Corporation, mobile +358 400 814 148

DISTRIBUTION:
NASDAQ OMX Helsinki Ltd, main media, www.raute.com

RAUTE IN BRIEF:
Raute is a technology and service company that operates worldwide. Raute's
customers are companies operating in the wood products industry that
manufacture veneer, plywood and LVL (Laminated Veneer Lumber). The technology
offering covers machinery and equipment for the entire production process. As a
supplier of mill-scale projects Raute is a global market leader both in the
plywood and LVL industries. Additionally, Raute's full-service concept includes
services ranging from spare parts deliveries to regular maintenance and
equipment modernizations. Raute's head office is located in Nastola, Finland.
Its other production plants are in the Vancouver area in Canada, in the
Shanghai area in China, and in Kajaani, Finland. Raute's net sales in 2011 were
EUR 74.3 million. The number of personnel at the end of 2011 was 464. 

More information about the company can be found at www.raute.com