Aker Kvaerner to deliver recovery boiler to UPM’s Kymi pulp mill in Finland

22 June 2006 - Aker Kvaerner has been awarded a contract for the supply of a recovery boiler, to modernise the chemical recovery plant at UPM’s Kymi pulp mill in Kuusankoski, south eastern Finland. The contract value to Aker Kvaerner is approximately EUR 80 million. UPM is one of the world’s leading producers of printing papers and the clear market leader in magazine papers.

The recovery boiler will be part of the mill’s new recovery line, which will replace two existing lines that date back to the 1960’s and 1970’s. The new recovery plant will improve the pulp mill’s energy efficiency and decrease fossil carbon-dioxide emissions. The new generation recovery boiler will be designed for maximum power generation and it will increase the electricity production produced from biofuels.

Kvaerner Power, part of the Aker Kvaerner group, will supply the recovery boiler rated at 3600 tons of dry solids per day and steam parameters of 505°C and 103 bar. The delivery also consists of an odorous gas treatment system, a flue gas scrubber for effective heat recovery, and an ash leaching system for chloride and potassium reduction. The new recovery boiler will be ready for operation in the summer of 2008.

ENDS

UPM is one of the world’s leading producers of printing papers and the clear market leader in magazine papers. The Group’s sales in 2005 were EUR 9.3 billion, and it has over 31,000 employees. UPM’s main products include printing papers, converting materials and wood products. The company has production plants in 15 countries and its main market areas are Europe and North America. UPM’s shares are listed on the Helsinki and New York stock exchanges. Further information is available on the company’s web site at www.upm-kymmene.com

UPM’s Kymi facility is a versatile industrial site that consists of an integrated production of pulp, paper and energy. UPM’s Kymi paper mill produces coated and uncoated fine papers. The pulp manufactured at the pulp mill is used for Kymi’s own paper production.

AKER KVÆRNER ASA, through its subsidiaries and affiliates (“Aker Kvaerner”), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals, Power Generation and Pulp & Paper. The Aker Kvaerner group is organised into two principal business streams, namely Oil & Gas and E&C, each consisting of a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities.

The parent company in the group is Aker Kværner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 41.4 billion and employs approximately 20 000 people in more than 30 countries.

Aker Kvaerner is part of the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 40 000 employees and NOK 62 billion revenues. Aker owns 50.01 per cent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.

Kvaerner Power is the leading chemical recovery equipment supplier in the world with its 300 recovery boilers and 300 evaporation unit deliveries. Kvaerner Power is also a forerunner in fluidized bed combustion for both the pulp and paper industry and the power generation industry. Approximately 200 power boilers in operation testify to the expertise in fluidized bed technology with demanding fuels. Kvaerner Power has designed and manufactured the world’s largest recovery units and biomass-fired fluidized bed boilers. Kvaerner Power has main operations in Finland, Sweden, USA and Brazil, employing 1600 people worldwide.

This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com

Contact Information

Torbjørn Andersen

SVP Group Communications

Aker Kvaerner

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