The Cham Paper Group's transformation process is progressing more rapidly than expected. As the Group announced today, by April 2013 it will be ready to commence production of speciality papers for the tobacco industry, which are currently produced in Cham, at the Italian site in Carmignano and distribute the papers from there. The extensive tests on coating machines in Cham using externally produced raw papers are also proceeding with success and will be concluded by early 2013. These are needed to produce 'digital imaging' and 'BARnamic' speciality papers, which will also see future production in Switzerland. The second paper machine in Cham will therefore be decommissioned by March/April 2013.

The development and sales teams are systematically preparing themselves for the completion of the transformation and the new direction that the Group will be taking in spring 2013. The market has thus far responded well to the changes announced. In August 2012, the Board of Directors assigned management the task of planning a new innovation and coating centre, located away from the current company site, in or around Cham.

On 1 September 2012, Marcello di Giacomo took up his role as the new site manager at Carmignano, also becoming a member of the Management Board at the same time. From April 2013, the Carmignano site will become the most important production facility in the Cham Paper Group and the backbone of an efficiency-oriented production and logistics platform in the eurozone.

Leaving the Cham Paper Group, however, is CFO Patrick Schmid. Patrick Schmid has been with the Cham Paper Group for 17 years, working in various positions. In 2005, he became Head of Finance at the Swiss site and since 2010 he has been the Group's CFO. The Board of Directors and the management team would like to thank him for his huge commitment, particularly in the planning and implementation of the transformation process over the last two years, and wish him the very best both personally and professionally for the future. The Group will release more information regarding the vacant position of CFO at a later point.