ALMA MEDIA CORPORATION PRESS RELEASE JUNE 29, 2007 AT 9:00AM
ALMA MEDIA SOLD THE BUSINESS OPERATIONS OF KAINUUN SANOMAT NEWSPAPER PRINTING HOUSE
Alma Media Corporation has sold the business operations of the newspaper printing house of Kainuun Sanomat Oy, together with its machinery and equipment, to Pyhäjokiseudun Kirjapaino Oy. The employees of the printing house will continue in the employment of the new owner with existing status and benefits when the deal is finalised on July 1, 2007. The sale does not cover the sheet printing works of Kainuun Sanomat Oy, which will continue operations as before.
In connection with the divestment, Pyhäjokiseudun Kirjapaino has entered a long-term lease agreement with Kainuun Sanomat Oy on continuing the printing operation in its present property in Kajaani, Finland. In addition, the new owner has given a pledge to invest in a new printing press.
"This solution secures the printing services of the Kainuun Sanomat newspaper in future, as well as the jobs in the business in Kajaani", says Matti Ilmivalta, managing director, Alma Media Northern Newspapers business unit.
"This deal is the most important ever in the history of Pyhäjokiseudun Kirjapaino. We see it as a token of trust and a new opportunity for our printing house. The decision now made will affect our operation long into the future", comments Asko Talvi, managing director, Pyhäjokiseudun Kirjapaino.
Of Alma Media's publications, the Kainuun Sanomat and Koti-Kajaani are printed in the divested printing house. In addition, the Kajaani press prints Ylä-Kainuu, Kuhmolainen and Sotkamo-lehti, all publications belonging to Suomen Paikallissanomat Oy, part of Alma Media.
Matti Ilmivalta, managing director, Alma Media Northern Newspapers, tel. +358 40 728 3180.
Helsinki Exchanges, principal media
Alma Media is a profitably growing and internationally expanding company that invests in the future of newspapers and the online media. Its best known products are Aamulehti, Iltalehti, Kauppalehti and Etuovi.com.
Net sales in 2006 totalled EUR 302 million and the operating margin was 16 %. The company's share is listed in the Mid Cap segment of the OMX Nordic Exchange's Nordic List, trading code ALN1V. More information at http://www.almamedia.fi/home.