Stock Exchange Releases

Tulikivi Corporation Purchased Kuhmo-Based Kivia Oy


Tulikivi Corporation has purchased the entire capital stock of Kivia Oy, a manufacturer of soapstone fireplaces. The purchase agreement was signed on 21 October 2003. The ownership to the shares will be transferred on 1 November 2003. As a result of the transaction, Tulikivi is set to strengthen its position as the market leader within the heat-retaining fireplaces due to expansion in product range and distribution channel. Kivias soapstone reserves will increase significantly group´s soapstone reserves. Tulikivi intends to continue Kivia Oy’s business operations in Kuhmo.

Kivia Oy is the third largest soapstone processor in Finland. The company has some thirty employees. The company has been operating since 1998. Its net sales in 2002 amounted to EUR 2.6 million and the total assets/liabilities were EUR 2.6 million.

Additional information:
– Tulikivi Group, FIN-83900 Juuka, Finland, tel. +358 (0)13
681 111,
– Chairman of the Board Matti Virtaala
– Managing Director Juha Sivonen

– The Helsinki Stock Exchange
– Key media