Finnish new wood company Harvestia Oy will start its operations during the summer of 2008

Apr 29, 2008. /Lesprom.com/. Myllykoski Corporation and Powerflute Oyj earlier informed of establishing a joint venture to manage their wood procurement. The new company has now been named Harvestia Oy, and it will handle wood procurement to Myllykoski Paper (paper mill in Anjalankoski and 50 % of wood supply to Sunila chemical pulp mill) and Powerflute's Savon Sellu mill manufacturing nordic semi-chem fluting. Harvestia will start its operations during the summer of 2008. The mills' combined wood demand is approximately 2.5 million cubic meters per year. The new company to be controlled by Myllykoski and Powerflute is the best alternative to ensure continuity of future wood supply for Myllykoski Paper, Sunila and Savon Sellu. Through Harvestia, the owners aim to create a channel to forest owners' organisations and forest owners as well as independent sawmills. The name Harvestia was published on April 29 in the annual meeting of Jarvi-Suomen Metsanomistajaliitto (Forest Owners' Union of Finnish Lakeland) in Mikkeli. The main role of Harvestia is to manage the parent companies' wood procurement and to create long-term co-operation with its partners. Harvestia's vision is to be a trustworthy and preferred partner to forest owners in wood sourcing matters. The wood will be procured mainly from Finland, but also from the Baltic Sea region. The company will employ directly approximately 50 - 60 employees and approx. 100 forest machine and truck entrepreneurs and their staff. The company will pay over 100 million Euros/a as stumpage prices, harvesting and transport fees and salaries to forest owners, entrepreneurs and employees. Myllykoski is a family owned international paper group with manufacturing in Finland, Germany, Switzerland and the United States and sales offices around the world. The Group's products consist of wood-containing uncoated and coated publication papers, including newsprint. Powerflute Oyj is a subsidiary Savon Sellu Oy in Kuopio, Finland, manufactures a specialised high quality grade of semi-chem fluting. The company's brand Powerflute ™ is internationally well known by corrugated board and packaging manufacturers, and it is used especially in fruit and vegetable packing. Powerflute's objective is to continue organic growth of the existing business but also acquisition led-growth in paper and paper conversion assets.