Jaakko Pöyry Tecnología Ltda, which belongs to the Jaakko Pöyry Group's Forest Industry business group, has been awarded engineering contracts by Veracel Celulose S.A. for their pulp mill project in Brazil. The value of the assignment amounts to approximately EUR 14 million, of which EUR 4 million is included in the June 30, 2003, order stock.
The assignment consists of owners engineering services to assist Veracel in the pulp mill project implementation and of complete engineering, project and construction management services for the interconnections and complementary plants of the pulp mill. The new pulp mill will have a capacity of 900 000 tons a year. It is scheduled to start up in mid 2005.
Veracel Celulose S.A. is owned by Aracruz Celulose S.A. and Stora Enso Oyj. Jaakko Pöyry has a long lasting business relationship with both the owners and has participated in implementation of several of their major projects in Brazil as well as globally.
The Forest Industry business group, operating under the brand name Jaakko Pöyry, had net sales of EUR 175 million in 2002. The Forest Industry business group has offices in 18 countries and employs some 2150 experts worldwide.
JAAKKO PÖYRY GROUP OYJ
Erkki Pehu-Lehtonen
President and CEO
Teuvo Salminen
Deputy to President and CEO