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2009-07-01 13:30:00 CEST 2009-07-01 13:30:01 CEST REGULATED INFORMATION Raute - Company AnnouncementRAUTE'S 8 MEUR CONTRACT NOT EFFECTIVE BY THE END OF JUNERAUTE CORPORATION STOCK EXCHANGE RELEASE 1 July 2009 at 2.30 p.m. RAUTE'S 8 MEUR CONTRACT NOT EFFECTIVE BY THE END OF JUNE Raute Corporation's contract with a Chinese customer to deliver Raute's machinery to Russia, which was signed and published on 20 May 2009, has not become effective in the estimated schedule in June, due to a reason not depending on Raute. Thus, the machinery of a veneer mill worth about EUR 8 million according to this contract is not included in the company's order book as of 30 June 2009. Both the customer and Raute continue to work towards making the contract effective. The market situation in the wood products industry has remained difficult and no new significant investments have been started. Raute will continue to adapt its operations to the weak demand and the low order book. Due to the low order book, weak demand and the postponements of investment decisions relating to mill-scale projects, Raute's net sales will decline significantly in 2009. Operating profit will be negative, despite the adaptation measures taken. Raute will publish its interim report for January - June 2009 on 4 August 2009. RAUTE CORPORATION Tapani Kiiski President and CEO FURTHER INFORMATION: Mr. Tapani Kiiski, President and CEO, mobile +358 400 814 148 Ms. Arja Hakala, CFO, mobile +358 400 710 387 DISTRIBUTION: NASDAQ OMX Helsinki Ltd, main media, www.raute.com RAUTE IN BRIEF: Raute is a technology company serving the wood products industry worldwide. Its most important customers are the plywood and LVL industries. The company is one of the world's leading suppliers of mill-scale projects to these customer industries. The total service concept also includes technology services, with which Raute supports its customers throughout the entire life cycle of their investments. Raute's head office and main production plant are in Nastola, Finland. Its other production plants are in the Vancouver area of Canada, in the Shanghai area of China, and in Jyväskylä and Kajaani, Finland. Net sales in 2008 were EUR 98.5 million and the number of personnel 573. More information on the company can be found at www.raute.com. |
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