MEDITE INVESTS IN THE FUTURE OF MDF

10th March 2008 - Ongoing capital investment programme

Supplied by the leading global supplier of fiber preparation equipment, Metso Panelboard, the new Defibrator systems will produce high quality fiber at Medite's facility in Clonmel, Ireland, as part of a capacity upgrade for the MDF manufacturer and supplier. The EVO 56 Defibrator systems represent the latest technology in fiber preparation, with new technology enabling Medite to significantly increase total fiber production, whilst maintaining previous levels of electric energy and steam consumption. The required dryer evaporation capacity will also remain the same.

Medite Europe Ltd. - part of Coillte Panel Products and owned by Coillte (the Irish forestry board) - operates two MDF production lines. Medite products are recognised as the benchmark for quality, consistency and performance in MDF, as well as being FSC certified. Medite has led the market in technical innovation, introducing such advances as moisture resistant, flame retardant, exterior grade, zero-added formaldehyde and flooring quality MDF varieties, and their programme of innovation is continuous.

Gerry Britchfield, Coillte Panel Product's managing director, said: “Medite's plant in Clonmel is being maintained as a leading, world class MDF facility on an ongoing basis and is at the forefront of modern technology in this sector. The highest quality standards are expected and associated with the Medite brand and Coillte is committed to supporting best practice – from sustainable forestry, right through to greater energy efficiency. This major engineering project is just a part of our planned and ongoing capital investment programme.”