SUOMINEN ARRANGES REFINANCING AND RECORDS GOODWILL AND NON-RECURRING COSTS

SUOMINEN CORPORATION  STOCK EXCHANGE RELEASE 9 DECEMBER 2010 AT 10:00 A.M.      


SUOMINEN ARRANGES REFINANCING AND RECORDS GOODWILL AND NON-RECURRING COSTS      

Suominen has made an agreement of a credit facility in the amount of EUR 44     
million to refinance the syndicated credit facility of 2008. The credit         
arrangement includes a three-year amortizing loan and a revolving credit        
facility for two years.                                                         

The credit terms have been eased concerning covenants on debt service. Terms and
conditions have been tightened in terms of interest rate margin and security    
arrangements, and there will be limits on investments, dividend distribution and
third-party borrowing. The company's financing costs are expected to increase   
next year by more than EUR 1 million.                                           

Suominen is recording a non-recurring write-down of goodwill in the amount of   
EUR 4.9 million in the company's 2010 financial statements. The impairment loss 
concerns the Nonwovens cash-generating unit. Suominen has tested the goodwill   
allocated to cash-generating units for impairment. Because of market            
uncertainties a greater risk than before has been accounted for the             
calculations. The record has no effect on the cash flow. Following the          
write-down, the unit will no longer have any goodwill.                          

In the Codi Wipes unit, Suominen has launched planning of measures aimed at     
reorganising operations. For that purpose, the co-determination procedures will 
be started in the Netherlands with an employee representative, in accordance    
with the local protocols. If the reorganisation measures are carried out as     
planned, the unit will record non-recurring costs of approximately EUR 1 million
for the year as a consequence of the arrangements. A similar amount of savings  
is forecast for next year.                                                      

In its September quarterly report, Suominen estimated that the company's overall
operating profit for 2010 will be negative due to the decrease in sales volumes,
lower margins and non-recurring expenses. The company previously announced that 
it will record non-recurring costs this year totalling nearly EUR 1 million as a
result of restructuring in Flexibles business area and the shutting down of the 
Nastola plant.                                                                  


Helsinki, 9 December 2010                                                       
                                                                                

SUOMINEN CORPORATION                                                            


Board of Directors                                                              


For additional information please contact:                                      
Mr. Petri Rolig, President and CEO, tel. +358 (0)10 214 300                     
Mr. Arto Kiiskinen, Vice President and CFO, tel. +358 (0)10 214 300             


Suominen produces high-quality flexible packaging, wet wipes and nonwovens for  
industry and the retail sector. The Group is one of the Europe's leading        
manufacturers in all its business areas with operations in Finland, Poland, the 
Netherlands, Sweden and Russia. The Group had net sales of EUR 179 million in   
2009 and it employs around 1,000 people. Suominen is listed on NASDAQ OMX       
Helsinki. www.suominen.fi

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