Jaakko Pöyry Group awarded EUR 10 million engineering assignment for UPM-Kymmene's new fine paper machine in China

Jaakko Pöyry Oy and JP-Kakko Oy, which are a part of the Jaakko Pöyry Group's Forest Industry business group, have been commissioned to provide basic and implementation engineering for UPM-Kymmene's new fine paper machine to be built in Changshu, China. Services include plant engineering, structural engineering and co-ordination of the project. The total value of the engineering service contract is about EUR 10 million.

The new production line will have a capacity of 450 000 tons a year. It is scheduled to start up during the first quarter of 2005. The new assignment stems from UPM-Kymmene's and Jaakko Pöyry's longstanding co-operation in the implementation of industrial investment projects. Jaakko Pöyry was also engineering consultant for the first fine paper machine in Changshu built for the April Group in 1998. The appointment further strengthens the Forest Industry business group's and Jaakko Pöyry Group's role in the growing Chinese market.

The Forest Industry business group, operating under the brand name Jaakko Pöyry, had net sales of EUR 150 million in 2001. The Forest Industry business group has offices in 12 countries and employs some 2000 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Erkki Pehu-Lehtonen
President and CEO

Teuvo Salminen
Deputy to President and CEO