Investment AB Kinnevik (publ) ("Kinnevik") today announces that as a
result of a weakening demand in all product segments the production
stoppages in Korsnäs in the fourth quarter will exceed the previously
planned 12 days, which will impact profitability in the fourth
quarter.
The result in the fourth quarter 2008 will be impacted by the
maintenance stoppages implemented according to plan, prolonged
market-related stoppages and write-downs and is expected to amount to
minus SEK 70-90 million. In addition, the previously communicated
provision to meet staff reductions of approximately SEK 75 million
will be taken in the fourth quarter.
For further information, visit www.kinnevik.se or contact:
Christer Simrén, CEO of Korsnäs AB +46 (0)26 15 10 00
Torun Litzén, Director Investor Relations +46 (0)8 562 000 83
+46 (0)70 762 00 83
Investment AB Kinnevik (publ)'s objective is to increase shareholder
value, primarily through net asset value growth. The company's
operations include three comprehensive business areas; Major Listed
Holdings which includes Millicom International Cellular, Tele2,
Modern Times Group MTG, Metro International and Transcom WorldWide,
Major Unlisted Holdings which includes the cartonboard and paper
company Korsnäs, and New Ventures which is active in finding new
investments in small and mid sized companies with a significant
growth potential. Kinnevik plays an active role on the Boards of its
holdings.
Kinnevik is domiciled in Stockholm. The Kinnevik class A and class B
shares are listed on OMX Nordic Exchange Stockholm, Large Cap
segment, within the financial and real estate sector. The ticker
codes are KINV A and KINV B.
