Hartwall Capital Increases Stake in Karelia

Kuopio, Finland, Jun 30, 2008–Hartwall Capital Oy Ab has purchased Karelia Finland Oy’s 33 percent stake in Karelia Upofloor Systems, giving Hartwall 99 percent ownership.

Hartwall bought its first stoick of Karelia-Upofloor flooring group in 2004. Karelia Finland Oy is owned by Heikki Väänänen. and his family.

Karelia-Upofloor is seeking investment to help it grow in the hardwood flooring business in Finland, Russia, and Romania.

“We find Karelia-Upofloor a very interesting company which has good opportunities especially in Russia. We believe that wood will increase its popularity as a flooring material’, says Erik Hartwall, Hartwall Capital’s board chairman.

In 2007 the Karelia-Upofloor Group’s net sales totalled $203 million, an increase of 5 percent over 2006.