M-real divests the Reflex mill’s Premium Paper business to Walzmühle AG that is owned by Hahnemühle FineArt GmbH, the Hahnemühle management and private shareholders of Hahnemühle. The divestment is expected to be closed during the first quarter of 2012.The divestment would decrease M-real’s annual sales by approximately 20 million Euros, and it would not have a material impact on M-real’s operative result. The divestment is not expected to have a material non-recurring result or cash flow impact.“We are very satisfied that the well-recognized speciality paper producer Hahnemühle takes over the Reflex Premium Paper business. Our actions to build a Business Park at Reflex by finding other producers to the site have been very successful. Thanks to our Business Park concept, more than half of the originally over 400 jobs can be saved at the mill,” says M-real’s CEO ,Mikko Helander.After the divestment of the Premium Paper business, M-real has no operations left at the Reflex mill. The discontinuation of the carbonless paper converting was agreed in late 2011. In October 2010, M-real sold PM5 and some related assets at the Reflex site to Metsä Tissue.Hahnemühle FineArt GmbH is a German based speciality paper producer and one of the market leaders in its field in Germany.