Papierfabrik Scheufelen Announces Top Management Changes

LENNINGEN, GERMANY—Jan. 4, 2010—Papierfabrik Scheufelen GmbH & Co. (Scheufelen), the manufacturer of coated wood-free premium papers owned by the Finnish paper group Powerflute OYJ (Powerflute or the Group), has announced the following management changes:

• Michael Spallart stepped down as CEO of Scheufelen on Dec. 31, 2010, to assist Powerflute with development projects elsewhere in the group.

• Kim Jokipii, who left Scheufelen at the end of 2009 following the completion of a successful transition to Powerflute ownership, will return as CEO.

• Hariolf Koeder, who left the company earlier in the year to pursue academic studies, will rejoin it as deputy chief executive officer. In this new role, he will resume responsibility for sales and marketing and business development.

Commenting on the changes, Powerflute’s CEO Marco Casiraghi said, “We are delighted that Hariolf Koeder has agreed to rejoin us and regard his appointment as a major strengthening of our management team. Kim Jokipii has been involved in the graphic paper sector for over 40 years and since December 2009 associated with the Group as member of the Scheufelen advisory board. Both his knowledge and experience will be invaluable for the further development and growth of Papierfabrik Scheufelen. We are confident that the appointments will be well received by employees, customer and suppliers. We thank Michael Spallart for his contribution at Scheufelen during what has been a very challenging period.”

About Papierfabrik Scheufelen GmbH + Co. KG
Scheufelen, founded in 1855, was taken over by Powerflute OYJ on 1 January 2009. At the Lenningen site in Germany around 500 employees manufacture up to 300,000 tonnes a year of high quality, coated, wood free premium paper from FSC and PEFC certified pulp.

Source: Company press release.

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