Stock Exchange Releases

Announcement of an absorption merger to Tulikivi Corporation´s shareholders


The Boards of Directors of Tulikivi Corporation and its subsidiary
Kermansavi Oy have signed a merger plan on June 29, 2007. Under
the plan, Kermansavi Oy will merge into Tulikivi Corporation by
means of absorption. The merger plan was registered on July 27,

According to the merger plan, Kermansavi Oy’s assets and
liabilities will be transferred to Tulikivi Corporation at their
book value at the time of merger. No consideration will be paid in
the merger, as the receiving company, Tulikivi Corporation, owns
all the shares in Kermansavi Oy. The merger will not affect
Tulikivi Corporation’s Articles of Association. The merger aims to
streamline the Group structure. It is planned that the
implementation of the merger will be registered on December 31,

The merger plan, with its annexes and the documents specified in
Article 11, Chapter 16 of the Companies Act, will be available for
inspection by shareholders from August 29, 2007, at Tulikivi
Corporation’s head office at Kuhnustantie 10, 83900 Juuka, and at
Kermansavi Oy’s head office at Rasiahontie 3,79700 Heinävesi.
Copies of the documents will be sent to shareholders on request.
They can be ordered by phone from +358 207 636 251/Kaisa Toivanen
or by email from

If Tulikivi Corporation shareholders that own at least five (5)
per cent of the company’s shares demand in writing within one
month of the publication of this announcement that the merger must
be decided on at a general meeting of shareholders, an
extraordinary general meeting will be convened in accordance with
the Companies Act and the Articles of Association. The demand must
be sent to Tulikivi Corporation at the address Tulikivi
Corporation/Kaisa Toivanen, 83900 Juuka.

Juuka, August 29, 2007

Tulikivi Corporation
Board of Directors

A listed family company, Tulikivi Corporation and its subsidiaries
form the Tulikivi Group, the world’s largest manufacturer of heat-
retaining fireplaces. The Group is known for its Tulikivi
soapstone fireplaces and natural stone products as well as its
Kermansavi ceramic fireplaces and utility ceramics. The Group’s
revenue amounts to approximately EUR 80 million, about half of
which is accounted for by exports. The Group owns seven production
plants and employs just over 700 people.