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Loparex Names New CEO

May 6, 2008

Michael Apperson will succeed Pentti Kallio, Loparex Group's CEO since 2005.

Effective next week, Michael Apperson has been appointed president and CEO of Loparex Group. He will succeed Pentti Kallio, Loparex Group's CEO since September 2005, who will become a member of the Loparex Group supervisory board.

Before joining Loparex, Mr. Apperson worked for American Fibers and Yarns (AFY) as president and CEO. Prior to American Fibers and Yarns, he was the president and CEO of Kidde Safety and held a variety of business leadership positions in DuPont and Honeywell.
"It is an honor to be able to take the reins from Pentti Kallio of such an outstanding group," Mr. Apperson stated.  "I look forward to leading Loparex to strong growth driven by a unique global platform, technical leadership, a customer-focused culture and strong competitiveness."

Loparex Group has signed a share purchase agreement with Mondi Coating BV concerning the sale of Loparex Oy (the Lohja plant) and Loparex Ltd (the Glossop plant) as well as Loparex's printing and slitting terminals located in Poland and Thailand. “Considering the sale of these units,” said Mr. Kallio, “this was the perfect timing for the change of leadership. With his excellent career path and expertise, Mr. Apperson is the right person to take Loparex Group forward."