MAJOR INVESTMENT IN NEW FACILITIES AT ABP'S PORT OF HULL

MAJOR INVESTMENT IN NEW FACILITIES AT ABP�S PORT OF HULL

Associated British Ports (ABP) is providing expanded terminal facilities at its Port of Hull as part of a significant new 10-year agreement with Finnforest UK Ltd (�Finnforest�).

Finnforest has imported and distributed timber through a 6,300 sq m warehouse at Alexandra Dock, Hull, since 2002, and is seeking to expand its operations at the port. Under the new agreement, Finnforest will relocate and reconfigure its manufacturing and processing operations. These operations, currently situated in the City of Hull, will be moved to a newly re-developed 3,600 sq m facility at the port.Finnforest will also reconfigure and further develop its existing terminal and distribution-centre operations at the port.

Douglas Morrison, Port Director, ABP Hull & Goole, said:

�For this initial phase of Finnforest�s development, we are investing �0.9 million in new facilities.This shows how we work with our customers, investing in the business on the back of long-term agreements.�

Mark Tonge, Director of Logistics and Information Technology, Finnforest UK, said:

�The Port of Hull is a location that fits the needs of our international supply chain. Our initial two years at the port have been positive and we are now pleased to be able to enter into an expanded long-term agreement with ABP, who are one of our supply-chain partners�.

1st October 2004

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