|
|||
![]() |
|||
2010-05-26 08:00:00 CEST 2010-05-26 08:00:01 CEST REGULATED INFORMATION Lassila & Tikanoja - Company AnnouncementL&T BIOWATTI TO DISCONTINUE ITS WOOD PELLET BUSINESSLASSILA & 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 |
|||
|