AGM Statement

Powerflute Oyj 

26.04.2012 09:53

Dissemination of a Adhoc News, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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26 April 2012

                                        

                                   POWERFLUTE

                                        

                                  AGM Statement

                                        



Powerflute Oyj ('Powerflute' or the 'Group'), the packaging and paper group,
released the following statement on current trading ahead of today's Annual
General Meeting of shareholders to be held in Kuopio, Finland.  Powerflute is
quoted on the AIM market of the London Stock Exchange (Ticker: POWR) and on
NASDAQ OMX First North, the alternative market of the NASDAQ OMX Helsinki
(Ticker POW1V). 

Dermot Smurfit, Chairman of Powerflute said:



'Following a period of weakness during the second half of 2011, paper and
packaging markets have exhibited signs of some recovery during the first
quarter of 2012. Order inflow has improved, price erosion has been less than
originally anticipated and we achieved delivery volumes that were slightly
ahead of the same period of the prior year. 

'Although market conditions are expected to remain challenging over the summer
months, we are confident that Powerflute is well placed both financially and
strategically to benefit from any improvement in trading conditions as the year
progresses. The Group continues to have a strong balance sheet and considerable
cash resources and we remain focused on our strategy of acquisitive growth in
the paper and packaging sectors.' 

                                    - Ends-





For further information, please contact:





PowerfluteOyj                              c/o Billy Clegg, FTI Consulting
Dermot Smurfit (Chairman)                  +44 20 7269 7157               
Marco Casiraghi (Chief Executive Officer)                                 
David Walton (Chief Financial Officer)                                    
Canaccord Genuity Limited                  +44 20 7523 8350               
Piers Coombs                                                              
Mark Dickenson                                                            
Pareto Őhman AB                            +358 9 8866 6029               
Ms Arja Väyrynen                                                          
FTI Consulting                             +44 20 7831 3113               
Billy Clegg                                                               
Oliver Winters                                                            
FTI Consulting (Ireland)                   +353 1 663 3686                
Mark Kenny                                                                
Jonathan Neilan                                                           








About Powerflute

Powerflute Oyj ('the Company' or 'Powerflute') is a paper and packaging group
quoted on the AIM market of the London Stock Exchange (Ticker: POWR) and on
NASDAQ OMX First North, the alternative market of NASDAQ OMX Helsinki (Ticker
POW1V). Through its subsidiary Savon Sellu Oy, the Group operates a paper mill
in Kuopio, Finland which produces a specialised form of semi-chemical fluting
made from locally sourced birch. Corrugated boxes manufactured using Nordic
semi-chemical fluting demonstrate strength and moisture resistance and are used
for transportation of fruit and vegetables, high-value industrial goods such as
electrical appliances and automotive components. The Kuopio mill is one of only
three suppliers of Nordic semi-chemical fluting in Europe.
News Source: NASDAQ OMX



26.04.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Powerflute Oyj
              
               
              Finland
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         FI0009015291
WKN:          
 
End of Announcement                             DGAP News-Service
 
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