Loparex Group to sell a few Loparex businesses to Mondi

Loparex Group has signed a share purchase agreement with Mondi Coating BV (part of Mondi Group listed at London and Johannesburg stock exchanges) concerning the sale of Loparex Oy, Loparex Ltd, as well as Loparex's printing and slitting terminals located in Poland and Thailand.

‘The decision to exit these operations was made as part of Loparex Group's strategy to create sustainable growth by focusing on certain value-added products and expansion in emerging markets,’ said Pentti Kallio, Loparex Group CEO.

The Loparex Group going forward will consist of: Loparex LLC with operations throughout the US, including the Willowbrook, Illinois head office. Loparex BV in the Netherlands, Loparex Asia Pacific in Guangzhou, China and an office in Hong Kong, and Kaygee-Loparex in India, a fifty percent joint venture.

Loparex's 2008 revenue is estimated to be 270 million euros and the group will employ 1100 people. Eighty percent of Loparex's business will come from North America.

The sale will be closed after the necessary approvals have been obtained from competition authorities, estimated to be this is July 1, 2008.