The Board of Directors of Tamfelt has decided to initiate an incorporation of the Group’s paper machine clothing (PMC) and filter fabric business areas. The incorporation is executed by means of a transfer of undertaking to the subsidiaries Tamfelt PMC Oy and Tamfelt Filtration Oy being established.

The Group parent company will henceforth be responsible for group management and certain support functions. The intention is that the new subsidiaries would commence their operations January 1, 2008.


The purpose of the incorporation is to develop the business and clarify the group structure.
The incorporation permits a more focused development of the business areas taking into account their particularities. The incorporation also improves the overall transparency of the Group. Through the incorporation the Group’s operational and legal structures will converge.

The incorporated paper machine clothing business area, Tamfelt PMC Oy, will consist of the Group’s PMC operations in Tampere and Juankoski as well as the PMC operations in North America and China. Seppo Holkko, Executive Vice President, PMC Division, will be appointed Managing Director of Tamfelt PMC Oy. The incorporated filter fabric business area, Tamfelt Filtration Oy, will consist of the Group’s filter fabric operations in Tampere as well as the filter fabric operations in Portugal, Brazil, Poland and China. Heikki Rehakka, Executive Vice President, Filter Fabric Division, will be appointed Managing Director of Tamfelt Filtration Oy.

The managing directors of the new subsidiaries will report to Jyrki Nuutila, President and CEO of the parent company. The Group parent company will after the transfers of undertaking own the subsidiaries and the real estate company Tamfelt Kiinteistöt Oy. The incorporation does not affect the terms and conditions of the employment agreements with the personnel. After completion of the incorporation in the beginning of year 2008, the Group will report the PMC and Filtration business areas as its primary reporting segment and the geographical segment as the secondary reporting segment. Tamfelt will later publish information on completion of the incorporation as well as financial information in accordance with the new segment reporting structure.