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Matti-Mikael Koskinen appointed Managing Director of Aspo's ESL Shipping


March 5, 2013 - London

ASPO Plc  STOCK EXCHANGE RELEASE March 5, 2013, at 8:45 a.m.

Matti-Mikael Koskinen, 41, M.Sc. (Econ.), has been appointed the new Managing Director of ESL Shipping Ltd, part of Aspo Group, as of May 1, 2013. He will also serve as a member of the Aspo Group Executive Committee. Lasse Rikala, the acting Managing Director of the company, will continue as a Board member of ESL Shipping. Matti-Mikael Koskinen has held the position of Managing Director at Meriaura Ltd since 2007, previous to which he worked as Meriaura's Deputy Managing Director and Chartering Manager.

"Mikki Koskinen is an excellent choice as the Managing Director of ESL Shipping as the company enters a new phase of development. He has experience in both dry cargo carrier and special vessel operations as Managing Director of Meriaura. He is familiar with new customer and environmental requirements as well as with how a shipping company can create added value by staying a step ahead of legislation in developing its operations. His experience in new service concepts for shipping companies and his views on vessels utilizing environment-friendly technology were essential to his selection as the new Managing Director says Aki Ojanen, CEO of Aspo Group and Chairman of the Board of Directors of ESL Shipping.

Aspo has invested in modernizing ESL Shipping's stock of vessels so that it complies with current requirements. Although the market situation is challenging, we believe that the expertise of ESL Shipping's management and personnel, combined with their will to further develop the company's operations, will create significant opportunities for both the shipping company itself and Aspo as a whole. The Arctic sea areas and transport of bioenergy are of particular importance in making inroads into new market and customer segments," says Aki Ojanen.

ESL Shipping transports dry bulk materials, mainly in the Baltic Sea region; in 2012, it transported approximately 10.4 million tons. The cargo mainly consists of ore, coal and limestone. The steel industry's share of transport was 57 percent, and the energy industry represented 31 percent. At the end of 2012, the company's fleet consisted of 14 vessels, of which the company owned 12 in full. One was leased and one partially owned.

ASPO Plc

Aki Ojanen
CEO

Further information:
Aki Ojanen, CEO Aspo Plc, tel. +358 9 521 4010, e-mail aki.ojanen (a)aspo.com

Distribution:
NASDAQ OMX Helsinki
Key media
www.aspo.com

Aspo is a conglomerate that owns and develops business operations in Northern Europe and growth markets focusing on demanding B-to-B customers. Our strong company brands - ESL Shipping, Leipurin, Telko and Kaukomarkkinat - aim to be the market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these. Together they generate Aspo's goodwill. Aspo's Group structure and business operations are continually developed without any predefined schedules.




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Source: Aspo Oyj via Thomson Reuters ONE

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