Mission and strategy

Mission John Nurminen is a well-established Finnish Group providing services in special logistics, business travel, and shipping. The core business of our Group is to provide services for companies operating in foreign trade. Objectives Our target is to offer customer-specific solutions and to pioneer in developing new service concepts. It is our aim to increase customer satisfaction, develop the competence of our personnel, and to improve the Group goodwill in the long run. In 2000 the Group's turnover amounted to FIM 386 million. Strategy Strong expertise and high-quality service are the key elements of our success. Our operation is based on skilled and well motivated personnel. At the end of 2000 the number of the Group's employees was 603. History John Nurminen has a history of 115 years. The company, established in Rauma in 1886, has been operating in three different centuries. Contents

Key Figures Group Corporate Structure ...... 1 Obituary ...... 2 Review by the Chairman of the Board ...... 3 Review by the Managing Director...... 4

Special Logistics Nurminen Prima Oy ...... 6 Nurminen Heavy Oy ...... 8 Nurminen Cargo Handling Oy...... 10 Nurminen Lovisa Shipping Oy...... 12

Business Travel KalevaTravel Ltd...... 14

Shipping Finnish Maritime Agencies Oy FIMAG ...... 16 Mascot Maritime Shipping Co Oy...... 16 Nurminen Deepsea Oy...... 16

Group’s affiliate companies ...... 18

Financial Statements 2000 Consolidated Profit and Loss Account ...... 20 Consolidated Balance Sheet...... 21 Key Figures...... 22 Shares and Holdings by Branch...... 23

Top Level Services ...... 24 The John Nurminen Foundation...... 26 Board Members...... 28 Managing Directors ...... 28 Contact information...... 29 KEY FIGURES 1996–2000

FIM million 1996 1997 1998 1999 2000

Gross sales 979 1,061 1,727 1,771 1,918

Net turnover 183 213 317 377 386

Profit after financial items 25 29 40 5 16

% of turnover 13.6 13.7 12.7 1.3 4.3

Return on investment (ROI) % 17.3 19.7 22.0 4.7 7.8

Equity ratio % 57.1 55.5 38.9 40.9 45.1

Investments 29 31 113 17 3.7

Personnel 526 600 905 960 603 Corporate Structure

Corporate Management Special Logistics John Nurminen Oy Companies are highly specialised in logistics services. They provide cost-effective services and qualified expertise for transport and export companies as well as for the logistical needs of international cultural exchange. Special Logistics Nurminen Prima Oy Nurminen Prima Oy Nurminen Heavy Oy Nurminen Heavy Oy Nurminen Cargo Handling Oy Nurminen Cargo Handling Oy Nurminen Lovisa Shipping Oy Nurminen Lovisa Shipping Oy Share of Group’s Turnover

Business Travel The Group´s travel agency specialises in business travel and aims at producing customised, high-quality and cost-effective travel services. KalevaTravel Ltd Share of Business Travel KalevaTravel Ltd Group’s Turnover

Shipping The companies supply the export industry and shipping agencies with services in liner shipping and port agency, chartering and ship management. The major operational areas are the Far East, South and North America, as well as the shortsea traffic in the Baltic Sea region. Finnish Maritime Agencies Oy FIMAG Mascot Maritime Shipping Co Oy Nurminen Deepsea Oy Shipping Share of Finnish Maritime Agencies Oy FIMAG Group’s Mascot Maritime Shipping Co Oy Turnover Nurminen Deepsea Oy

Others Affiliate companies Share of Group’s Turnover 1 Maritime Counsellor Matti Nurminen has departed

aritime Counsellor Matti el agent business. He participated in presenting either himself or his en- M Nurminen died in Helsinki on the activities of John Nurminen Oy's tire family with unexpected situa- 9 July 2000 at the age of eighty-nine. subsidiary KalevaTravel Ltd from the tions in unexpected parts of the He was born in Rauma on 13 Janua- 1930s and acted as the Chairman of world, as if by magic. For a good rea- ry 1911, and his family had moved to the Board of KalevaTravel Ltd for son, then, he is one of the founding Helsinki in 1918. He graduated from over three decades. members of the Magic Circle. the Finnish Business College in 1931. Matti Nurminen held several po- Matti Nurminen was interested in Matti Nurminen devoted his life's sitions of trust, for example in the maritime art, antiquities, and maps. work to John Nurminen Oy, a com- Association of Finnish Travel Agen- The antique maps that Matti Nur- pany established by his grandfather. cies, the Finnish Shipowners' Asso- minen had found in Paris in the From 1946 to 1971, Matti Nurminen ciation, The Baltic and Internation- 1930s are the basis for the John Nur- was Managing Director of the com- al Maritime Conference, the Finnish minen Foundation collections. pany, which had started with timber Creditors' Association, the Finnish Matti Nurminen was granted the trade, and expanded into a forward- Fair Corporation, and the Insurance honorary title of Maritime Counsel- ing, shipowner and port agency com- Company Eurooppalainen. lor in 1961. In 1973 he was granted pany. The company's shipowner op- The scouting movement and sea the honour of Commander of the Or- erations reached their peak in the rescue work were close to Matti Nur- der of the Lion of Finland. 1950s. At the end of the 1960s, the minen's heart. In his youth, he was also Matti Nurminen, until very re- company relinquished shipowner op- an active member of the Helsingin cently, had a keen interest in the de- erations and the priority shifted to in- Metsänkävijät scout pack. His contri- velopment of the John Nurminen ternational forwarding and transpor- bution as the founder of the Scout Group. Even after his retirement he tation. Matti Nurminen acted as the Foundation was considerable, and in took pleasure in visiting the offices Chairman of the Board of Directors 1965 he received the highest scout of the company. He will be remem- of the company from 1972 to 1986 medal, the Silver Wolf. He chaired the bered as a warm-hearted, sociable after which he was nominated honor- delegation of the Finnish Sea Rescue gentleman who had a great sense of ary Chairman of the Board. Association during 1967–72. humour and maintained a genuine Matti Nurminen never forgot his Matti Nurminen was a sailor. He interest in people and the world un- hometown of Rauma. A touching ex- was the commodore of the Merenkä- til the end of his days. ample of this dedication was the in- vijät sailors' association during 1958– cineration of John Nurminen Oy's 63, and he was appointed Honorary first trade ship, the barquentine Ul- Commodore of the association in 1972. jas, which he arranged at sea outside At his summer residence in Vihti Rauma in 1950. Matti Nurminen engaged in garden- Ever since his childhood, Matti ing and hosted memorable grill and Nurminen had been interested in crayfish parties for business friends, travelling. As a teenager he made a his family, and a wide circle of long trip in Central Europe on his friends. He was granted the member- bicycle. Since then, he became ac- ship of Chaîne des Rôtisseurs, which quainted with almost all the corners was an honour that made him genu- of the earth. In his job in internation- inely proud. Throughout his life, al maritime transportation he con- Matti Nurminen found pleasure in stantly travelled abroad. Matti Nur- arranging surprises and providing minen was also interested in the trav- true magic, usually in the form of

2 Review by the Chairman of the Board

uring the past year economic services locally with an international D development in Finland contin- operating network, which changed ued to improve and the growth pros- our participation in the company from pects for the year 2001 can be consid- strategic holding to investment. In ered sound. The centralisation proc- conjunction with this we gave up some ess that had started earlier in the in- of our real estate property. ternational transportation sector con- Although various changes have tinued on land, at sea and in the air. taken place during the history of our The new millennium has had a fa- company, it can be stated that the vourable start in view of the world business concept of the John Nurmi- economy. nen Group is basically the same as it John Nurminen Oy, established in was at the beginning of our activities. 1886, has been operating in three dif- The Group’s core business is still to ferent centuries. Such a long compa- provide services for companies in- ny history is rare today, and may be- volved in foreign trade. Logistics and come even more so owing to the ac- shipping branches are, together with celerating changes in the future. On business travel, the main business ar- the basis of our 115 years of experi- eas of our Group. We have participat- ence, we, at John Nurminen Oy, have ed in the development of KalevaTrav- a balanced, well-considered approach el for over sixty years. Our strategy to the development of the company: is to maintain both organic growth as a family enterprise, the John Nur- and growth through acquisitions, in ous year. We have launched actions minen Group aims at profitable our main business areas. However, as with the objective to transform our growth and to maintain its position a family enterprise, we will refrain portfolio into a more balanced whole. as the quality and market leader of from investing in capital intensive op- This project has progressed as antici- its sector well into the future. erations. pated. Our company history has various Our international operating I would like to express my warm- phases. It includes periods of strong branches change rapidly: they are un- est appreciation to the management growth and, correspondingly, deliber- dergoing centralisation, globalisation and personnel of the Group and to ate decisions on relinquishments. The and networking. New alliance ar- other interest groups for successful growth of traditional forwarding op- rangements dictate the form of inter- and rewarding cooperation in 2000. erations and international traffic at national maritime transport and avi- John Nurminen Oy, which started in ation. The production and distribu- Helsinki, March 2001 the 1970s, continued throughout the tion structure of business travel has following decades as road transporta- changed substantially through the Juha Nurminen tion started to dominate in Europe. introduction of new technologies. It is Chairman of the Board Ten years ago we relinquished these our intention to meet these challeng- fields of business and focused on spe- es with flexibility. Our light and ad- cial logistics. During the past year we justable Group and capital structure gave up our share majority in Nur- is our competitive edge. minen Ground Services Oy, simulta- With regard to operations, the past neously combining our expertise in year can be considered good, and re- providing airline ground handling sults were better than in the previ-

3 Review by the Managing Director

he year 2000 was a period of Russia. The Group companies Personnel development T changes and delevopment for strengthened their market position John Nurminen provide services for John Nurminen Group. The compa- despite of tougher competition. the Finnish export and import indus- ny implemented several development Turnover rose to FIM 132 million, tries. Our customer-driven opera- projects in order to improve competi- showing a growth of 18 per cent from tions are based on close co-operation tiveness and enhance operational ef- the previous year and a good level of with customers. Competent and high- ficiency. The Group focused on its core profitability. ly motivated personnel are the basis expertise: special logistics, business of our competitive and successful op- travel and shipping operations. The Business travel erations. During the report period, we company sold 66 per cent of its air- The Finnish economy continued to focused on management training and line ground handling services to grow, which increased the demand for the development of our personnel’s GlobeGround GmbH of Germany, one business travel. The market grew by professional skills. Core areas in our of the world’s leading suppliers of approximately 12 per cent, and internal operations are customer re- ground handling services. Through KalevaTravel’s sales rose by as much lationship management, service proc- integrating the local expertise of as 18 per cent on a year earlier. Pric- esses, and personnel development. Nurminen Ground Services Oy with ing and commission structures The Trainee programme, which the international operating network underwent major changes during the started at the beginning of 2000, has of GlobeGround GmbH, the compa- year. KalevaTravel was highly suc- received a warm welcome. The Group ny strengthened its position as an cessful in concluding partnership companies recruited seven young uni- independent supplier of ground han- contracts with its customers covering versity graduates to be trained for dling services in Finland. the entire travel-service manage- expert and managerial tasks by Turnover in 2000 amounted to ment. The company’s profitability working at the companies. A great FIM 386.1 million, which was FIM was good. number of the Group’s key employ- 9.2 million more than the year before. ees participated in JN-Academy’s Operational profitability improved Shipping training periods related to the considerably. Profit before extraordi- The shipping branch performance project. We will continue the devel- nary items totalled FIM 16.5 million. was inconsistent during the financial opment work of tailored in-company The profit was weakened by non-re- period. Freight and shipowner oper- training programmes and personnel curring expense items of FIM 34.4 ations continued to show a loss, competence in the future. million. In addition, cultural sponsor- whereas the shipping agency servic- ship amounted to FIM 7.5 million. es developed as anticipated. The Portfolio structure Return on invested capital before and management and company structure The domestic market is still our pri- after no-recurring expense items was of the shipping branch were reformed mary operating area although many 20.2 per cent and 7.8 per cent, respec- in order to rationalise operations and of our branches have rapidly gone tively. The company’s equity ratio improve profitability. The companies global and our competitors are more was favourable, reaching 45.1 per undertook extensive strategic work to and more often global companies. cent at the end of the year. determine the operational focus are- A strong market position and the con- as. The Group’s turnover amounted tinuity of operation are cornerstones Special logistics to FIM 45 million, which was FIM 2 of our strategy, and movement is the Demand for special logistics services million higher than the year before. common factor uniting the Group continued brisk throughout the year. Operational results showed a loss due companies. Local expertise in airline The business developed favourably to significant non-recurring items not ground handling services is no suffi- due to the economic recovery in included in the financial year. cient element in the future market

4 situation. For this reason, we sold the sales are expected to grow. majority of the shares in Nurminen The utilization of electron- Ground Services Oy to GlobeGround ic communications will cre- GmbH, entering into alliance with a ate new opportunities for world leading ground handling com- business travel, in partic- pany. This is how we ensured Nurmi- ular. Economic recovery nen Ground Services Oy’s competi- in Russia will increase tiveness in the business. demand for special John Nurminen Group focuses on logistics. Market three business areas: special logistics, trends in the Far East business travel and shipping. We are will affect the prospects actively exploring the opportunities to for shipping operations. expand our special logistics and ship- As a Group providing ping functions, and our goal is to also services, our success is expand through acquisitions in the primarily based on per- near future. The development of busi- sonnel competence and ca- ness travel services is mainly based pability to meet customer on organic growth and on the im- needs. The entire personnel provement of new IT solutions to showed a special interest in sharpen competitiveness . developing our operations in In 2000, the Group’s structure was 2000. The Group’s financial centralized and its operations were in- standing is strong. There- tegrated into larger units. Nurminen fore, the prospects for the Heavy Oy’s trailer service and main- Group’s 115th year of op- tenance operations performed well, erations are promising. and were spun off on 1 January 2001. Our goal is to continue to The name of the new-born company develop the Group’s core is Nurminen TransMec Oy. businesses and to generate controlled The Shipping branch began to cre- growth. Our present position provides ate a new strategy for the Baltic op- a solid foundation for this. erations and the operations of the af- I wish to thank our customers, filiated companies in the region were partners and the Group’s personnel reassessed. Nurminen Prima, in turn, for their confidence and fruitful coop- expanded its operations in the Baltic eration. region by buying a holding of 42 per cent in the operations of KLG Esto- Helsinki, March 2001 nia. Neighbouring regions in the east and the west are our natural growth Jan Lönnblad areas for some of our business. Managing Director

Future prospects Prospects for all of the Group’s core business areas are favourable, and

5 The competence area of Nurminen Prima’s removal logistics covers overseas removals of companies' key employees.

6 Special Logistics Nurminen Prima Oy Nurminen Prima Oy operates in three sectors of special logistics: domestic and international fine art and exhibition logistics, and removal logistics. The company is the market leader of its branch in Finland. The offices of Nurminen Prima are located in Vantaa. In addition to this the company has a permanent office in the Helsinki Fair Centre, and a representative office in Moscow, work- ing mainly on the sales and marketing of fine art logistic services in Russia. The Managing Director of the company is Pentti Flink.

Changes in the As a result of this, fur forwarding op- auditing conducted by Det Norske operating environment erations were relinquished during the Veritas the company obtained the ISO The number of foreign competitors autumn. 9001 quality certificate. continued to grow in all of the compa- At the beginning of the year Nur- ny's service sectors in Europe. In Rus- The year 2000 minen Prima acquired a holding in sia the know-how in the local compa- The year 2000 was the tenth anniver- the Estonian special logistics compa- nies developed and their internation- sary of Nurminen Prima. The devel- ny KLG Eesti AS. The contract in- al image improved, which for its part opment of company’s financial stand- cludes an option for acquiring a ma- tightened the competition. ing was satisfactory. In comparison jority holding of the company. The number of competitors in Fin- with the previous year, turnover grew land remained unaltered. Foreign by almost 20 per cent, totalling FIM Forecast for the year 2001 competitors started to show increas- 41.7 million. Yet the targets set for op- The internationalization of competi- ingly interest in the Finnish market. erations were not achieved. tion continues in all service sectors of However, Nurminen Prima suc- The main points in the company’s Nurminen Prima. As the European ceeded in improving its position in the strategy were controlled growth and Union expands, the domestic market market in all service sectors. internationalization, improvement area grows which means that new The exhibition logistic solution to of competitiveness and cost-efficiency, competitors enter into the market. In Finnish export companies assists the improvement of the company’s known- Russia the professionalism and companies as they participate in ex- ness, and construction of the desired knownness of local competitors con- hibitions across the world. Domestic corporate image. tinues to grow. exhibition logistics solutions are The number of personnel de- Nurminen Prima’s key factors for available at the Helsinki Fair Centre creased to some extent, totalling thir- success include deep-going coopera- and other exhibition forums and lo- ty-three at the end of the year. Four tion with customers, cost-efficiency cations. of the employees are working in the and quality, and the high service In fine art logistics, Nurminen Pri- representative office in Moscow. standard of the partner network. Fur- ma's major market in Finland is in Positive development was partic- thermore, maintaining the skills of the sector of museums and galleries. ularly significant in removal logistics, the personnel and increasing the im- Nurminen Prima has established a where turnover grew by 40 per cent. age of the company are central quali- position as one of the leading experts Nurminen Prima provided logistic so- ty objectives. By strengthening these in the Russian market. The clientele lutions for several European City of features, the company aims at retain- consists of both Russian museums Culture events in Helsinki. Budget- ing its existing market share and in- and the most famous museums of the ed sales of fine art logistics were clear- creasing turnover through new serv- world. ly exceeded. In the field of exhibitions ice concepts. In removal logistics, the company in Finland, the most important event The implementation of the compa- focuses on providing logistic solutions was the Power-Gen Europe 2000, a ny’s internationalization strategy will for enterprises as their key personnel massive fair of the energy sector ar- continue. The objective is to strength- move abroad. ranged annually in different parts of en the market position in Russia. In The fur market’s development was Europe and this year at the Helsinki the Baltic States the company’s oper- not favourable for Nurminen Prima. Fair Centre. Nurminen Prima was in ations will be expanded so that Nur- Finnish fur export concentrated in charge of all the necessary logistic minen Prima’s entire range of ser- countrie the company’s competitive services in Finland. vices will be availeble in Estonia, position was not strong enough, and, The quality project was completed Latvia, and Lithuania. therefore, markets were unprofitable. during the spring. As a result of the

7 Nurminen Heavy specialises in transportations of large and heavy objects. A pulping drum weighing 107 metric tonnes is being transported from Savonlinna to the Mäntyluoto harbour. The transportation unit has fifteen axles, fifty-eight wheels, a total length of 38.0 metres, a total height of 6.0 metres, and width of 4.9 metres. The transportation lasted almost forty-eight hours.

8 Special Logistics Nurminen Heavy Oy

Nurminen Heavy Oy provides special services for the transportation of large and heavy items in Europe, Russia, and in the Baltic States. Transportation is tailor-made according to the customer need and offered as a comprehensive service together with a network of cooperation partners. Nurminen Heavy is located in Jyväskylä, and the company has trailer repair shops in Vantaa, Kotka and Jyväskylä. Jukka Silvasti acted as Managing Director until 30 November, and was followed in this position by Hannu Vuorinen as of 1 December.

Changes in the burg and Alfeld in Germany, Stras- The above-mentioned success fac- operating environment bourg and Saillat Sur Vienne in tors functioned well. The company During 2000 the European market of France, and Burgos in Spain. Heat- constructed a set of indicators for the special transportation branch con- ing plant projects were delivered, in monitoring the development of the tinued to grow. The gradual recovery addition to Finland, to Bygdsiljum in different divisions. Some of these in- of the Russian economy opened oppor- Sweden, and to different locations in dicators are related to the working tunities for the growth of transit traf- Estonia and Russia. Transportation atmosphere survey, conducted in No- fic. The substantial rise in the cost of and hauling of large transformers was vember, and the project continues fuel had both direct and indirect im- carried out to several domestic loca- with the implementation of a custom- pact on the profitability of several tions, to Grangemouth in Scotland, er satisfaction survey during the transport companies and the compet- and to several locations in the Baltic spring of 2001. The ISO 9002 quality itive situation was tightened by ex- States. approval of Nurminen Heavy was con- cess capacity. The company’s repair shop activi- tinued with the auditing conducted by ties strengthened considerably, as the SKAL (Finnish Trucking Association). The year 2000 operations of Kotka Truck Service Oy Nurminen Heavy participated in The turnover of Nurminen Heavy were acquired in November and the the Group’s Trainee project by recruit- grew by 6.9 per cent from the previous expansion of the repairshop in Hak- ing one person to be trained for an year and totalled FIM 43.3 million, kila, Vantaa, was completed in De- expert on the branch through work- which was almost the budgeted figure. cember. The operating area has grown ing at the company. The theoretical The company’s profit also improved in from auxiliary transportation servic- training periods of the JN Academy comparison with the previous year. es to a unit with turnover of over FIM were also widely utilized in the train- The company’s personnel at the 10 million. A decision was made to ing of the company’s key personnel. end of 2000 numbered thirty-six. The spin off the operations, and Nurmin- number of employees in the repair en TransMec Oy, started operation on Forecast for the year 2001 shop operations increased to some 1 January 2001. The forecast for the next year on the extent owing to an acquisition. Nurminen Heavy outlined its special transport branch is good. The The main market area of Nurmi- strategy by the means of the Balanced volume of customer orders has devel- nen Heavy is in the transportation of Scorecard project. The company’s ob- oped positively, and several substan- products of the heavy mechanical en- jective is to become the best supplier tial export projects are being planned. gineering industry. The majority of of special transportation services to However, the transportation business turnover generated from export and Europe, Russia and the neighbouring still experiences excess capacity, import transportation between Fin- areas, as well as the quality and mar- which tightens the competition. Also land and the Central Europe and the ket leader of its branch. Nurminen the rising price of fuel generates prof- Nordic countries. The share of Rus- Heavy has well-prepared bridgeheads itability problems. In the coming year, sia and the Baltic States’ turnover for utilizing the growth prospects of Nurminen Heavy will invest in the grew slightly. In Finland the compa- Russia and the Baltic States, as well implementation of its intermediary ny concentrated on heavy transporta- as a reliable and flexible network of objectives defined in the Balanced tion and particularly demanding cooperating partners. The company’s Scorecard project, and strengthening transportation projects. basic processes are efficient and con- its position on the market. The most important projects in tinuously developing. Also, the per- 2000 were the transportation of ma- sonnel’s competence is maintained chinery for the wood-processing in- and improved fot future expertise dustry to Joutseno in Finland, Augs- needs.

9 Some 200 tank wagons pass through the Vainikkala border station every day. Nurminen Cargo Handling receives the wagons and forwards them according to the customers' instructions.

10 Special Logistics Nurminen Cargo Handling Oy

Nurminen Cargo Handling Oy (NCH) is a company producing services for handling and storage of goods. The services include unloading and reload- ing of transportation units, handling of railway cargo, transit storage, and terminal services. The company operates in Hamina, Kotka, Vainikkala, and Vantaa. The Managing Director of the company is Tapani Raunio.

Changes in the operating ing to reloading. The turnover of complete the certification by the end environment goods is a vital factor in efficient op- of the year 2002. Transit traffic to Russia, which had erations. The average stock turnover The forecast for the future is prom- earlier decreased considerably, turned rate of Nurminen Cargo Handling ising. The favourable development is up and occasionally exceeded the was good. expected to continue, and the volumes record volume of 1997. Operations in A solid follow-up and reporting sys- of transit traffic to Russia show no the Hamina terminal increased to the tem have been the cornerstones of the signs of slowing down. The company extent that an expansion of loading company and, therefore a new stor- plans to continue with the invest- platforms was necessary. Along with age bookkeeping system will be intro- ments in customer relationship man- the favourable development of foreign duced. Modern communication tech- agement and communication. Quali- trade, the volumes of cargo handling nology brings a significant surplus ty has always been the trade mark and storage services in Finland grew value for the end users. and competitive advantage of Nur- substantially. Several investments were made in minen Cargo Handling, and the com- various locations during the period pany will continue to maintain the The year 2000 with the objective of offering in- high quality standard during the next The turnover of the company in- creased quality of services. The load- financial year as well. creased over the previous financial ing platform of the Vantaa terminal Nurminen Cargo Handling invests period, totalling FIM 24.8 million. The was renewed and the realization of in providing services with new tech- targets set were surpassed and the the new service office for transit load- nology: the modern information tech- earnings were good. ing in the Mussalo harbour in Kotka nology is changing the market. Devel- At the turn of the year, the number was commenced. The actual construc- oping new product solutions for cus- of employees at Nurminen Cargo tion started with groundworks at the tomers and investing in direct cus- Handling was fifty-one. The number end of the year. tomer relationship are part of the of personnel doubled, which was part- By an agreement signed on 1 No- company’s objectives. ly due to the fact that the personnel vember 2000, Nurminen Cargo Hand- of Oy SL-Shipping Ltd. were trans- ling acquired the majority of Oy SL- ferred to the company in conjunction Shipping Ltd.’s operations. These with an acquisition. formed a unit specializing in border Nurminen Cargo Handling aims at services offering expedition for car being the quality leader of the branch. and railway traffic in Vainikkala, Nui- Strategic objectives set for the finan- jamaa, Vaalimaa, Hamina, and Kot- cial year were achieved. The clientele ka. The company’s service range also expanded in all sectors, and the oper- includes a separate metal handling ations were enhanced, for example, by unit where recyclable metal is sort- precise follow-up of cargo unloading, ed, stored, and shipped. storage, and reloading. The emphasis in personnel train- Forecast for the year 2001 ing was on the development of com- Development of issues for improve- munication and customer relation- ment of operations and the environ- ship management. ment will be continued with the ob- The operating principle of Nurmi- jective to proceed with the quality nen Cargo Handling is to produce fast and environment certificate project cargo handling services, from unload- during the year 2001. The target is to

11 Timber is the largest export handling item of Nurminen Lovisa Shipping; more than one million cubic metres were shipped last year.

12 Special Logistics Nurminen Lovisa Shipping Oy

Nurminen Lovisa Shipping Oy is a company offering cargo handling and stor- age services. It specializes in providing handling, transportation and storage of timber, general cargo, and bulk freight for the needs of export and import. The Managing Director of the company, Folke Roberts retired at the end of the year. Tapani Raunio replaced him as of 1 January 2001.

Changes in the The company invested strongly in Forecast for the year 2001 operating environment the quality of its operations. The ISO The forecast for the branch, both in Nurminen Lovisa Shipping operates 9002 quality certificate was retained, Finland and internationally, is posi- in the Loviisa harbour, the second and during the auditing of November tive. The Finnish sawmills will in- largest timber export harbour after only one minor deviation was detect- crease their production, and the ex- Mäntyluoto. The total volume of traf- ed. The personnel obtained a deeper port of timber will continue lively. fic in the Loviisa harbour was 980 insight of the importance of the qual- Renovation and construction of fa- metric tonnes, of which some 68 per ity system, and the customers’ expec- cilities enhance the efficiency of Nur- cent was exported and 32 per cent tations were better fulfilled. minen Lovisa Shipping’s operations. imported. Timber remained the ma- The major sectors of the company's The new storage programme and jor export article: the past year was export operations were timber han- more efficient utilization of informa- the third year in a row when more dling and transportation. The largest tion technology provide better tools than one million cubic metres of tim- consignments were shipped to the for customer service and strengthen ber was shipped, constituting 91 per Mediterranean countries. Import op- the company's position on the market. cent of the entire export traffic of the erations involved handling, transport harbour. Carbon, in turn, was the larg- and storage of various bulk freight est import article by volume, constitut- articles. Forwarding, sampling, and ing a share of 45 per cent. customs clearance assignments of car- With regard to the handling of tim- bon were one of the major areas of ber, the year was a record, although import operations. not all sectors achieved the set tar- Nurminen Lovisa Shipping devel- gets. The general cargo sector failed ops the harbour in cooperation with to reach the target volumes, as the the Port of Loviisa. The company in- Saimaa Canal was open for a longer vested in construction work with the period than usual, owing to the mild objective to provide the customers winter, and more cargo was shipped with better and more flexible service. via it. A new high-capacity weighing appli- ance was installed next to the plat- The year 2000 forms to weigh large cargo quantities Nurminen Lovisa Shipping is known for bulk freight traffic. as the quality leader of its branch, and At the beginning of December the the Loviisa harbour offers the best company started the construction of harbour services in Finland. The fi- a new harbour office in the platform nancial standing of the company de- zone. The office will provide services veloped favourably. Turnover totalled both for trucks entering the harbour FIM 22,4 million, exceeding to some and ships waiting at the docks. Work degree the sum of the previous finan- on the main office was also started in cial year. December, and the renovated open- The increase in the number of per- plan office will be completed during sonnel was moderate. At the end of the first half of 2001. In both construc- the period, the number of people em- tion projects the company will invest ployed by Nurminen Lovisa Shipping strongly in well functioning commu- was fifty-four. nications.

13 Business travelling increased and the development of KalevaTravel's sales clearly exceeded the average growth rate of the branch.

14 Business Travel KalevaTravel Ltd

KalevaTravel Ltd is Finland’s largest private travel agency. Almost 90 per cent of its turnover consists of business travel services. The company has seventeen full-service travel agencies in Finland; in addition to this, there are twenty-two service offices operating in large companies around the country. KalevaTravel Ltd is the only travel agent in Finland to have obtained the ISO 9002 quality certificate. The Managing Director of the company is Marcus Weintraub.

Changes in the included the Expo 2000 world exhibi- tural change, which entails a strong operating environment tion, for which KalevaTravel acted as renewal of operating modes and serv- For business travel agents the year the official tour operator. ice structures. Recruitment of compe- 2000 was the first year when the sales Close cooperation with the inter- tent personnel has clearly become commissions were decreased by the national partner Carlson Wagonlit harder, which speaks for the advance- airlines were with 30 per cent. This Travel continued. Synergy resulted, ment of KalevaTravel’s plans for entailed substantial adjustments to for example in shared information structural change, and the resources the new operating environment and system solutions and new service con- in the major cities will be centralized required further enhanced efficiency. cepts developed outside Finland. For in larger units. At the same time, customer contracts the customer, this cooperation means The utilization of the opportunities were renewed and changed into part- reasonable prices and the same high of electronic communications in the nership contracts, which include the standard of service around the world. cooperation between corporate clients customer’s entire travel management, The company also invested in the and the travel agent has become a including the travelling regulations continuous development of its person- central area of development for Kale- and policy as well as follow-up of trav- nel by providing both internal train- vaTravel; in the service strategy of to- el budgets, management of travelling ing and courses arranged by coopera- morrow these features will be devel- expenses accounts, and reporting. tion partners. oped further. The ISO 9002 quality certificate, In 2001 the company will carry out The year 2000 obtained in October 1999, presented a major change as the current travel Company´s sales increased to some substantial challenges for the compa- agent system will be replaced with FIM 1,250 million from FIM 1,060 ny’s operations. A functioning quali- a new one. The ACE system supports million in the previous year. The ty system was regarded as the key to future strategies of electronic commu- growth of sales was very intence and maintain competitiveness. The objec- nications and the sales and market- the company succeeded to increase its tive set for the quality system was the ing of the travel agent’s own produc- market share. Turnover amounted to rationalization of work in such a man- tion and special tours. Another task FIM 120 million and the company’s ner that more time can be allocated in the future is the utilization of the profitability was good. At the end of on personal customer service. know-how that the company’s inter- the year the company employed 334 The company’s values, based on national partner Carlson Wagonlit people. the quality policy of KalevaTravel, Travel, the world’s second largest The company developed its opera- were introduced to the personnel and travel agent chain, has already ac- tions through investments in custom- will be taken into practice in the fu- quired in other parts of the world. er-oriented comprehensive service ture. The values of KalevaTravel are and a maximum cost-efficiency. Serv- mutual respect, cooperation, the com- ice and efficiency have indeed become petence of the personnel, a customer- considerable competitive advantage oriented approach, and high-quality on the branch. The company also con- service. centrated on own tour production, like City World, Golf and Formula trips Forecast for the year 2001 and Disneyland Paris. This required The sales estimates for 2001 are pos- negotiations with thirty-five airlines itive. International business travel is on almost 500 destinations producing expected to continue growing well into special flight rates. During the finan- next year. KalevaTravel will proceed cial year the range of products also with the implementation of a struc-

15 The number of vessels coming into Finnish ports and handled by the port agency unit totalled 3,482 during the year.

16 Finnish Maritime Agencies Oy FIMAG, Shipping Mascot Maritime Shipping Co Oy, Nurminen Deepsea Oy

The companies of the Shipping group produce high-quality sea transportation and shipping agency services. The core of the product range consists of port agency services, freighting, ship management, overseas and shortsea traffic. The group operates in seven major harbours in Finland and it has subsidiaries and associated companies in Oslo, Tallinn, Riga, and St Peters- burg. Jouni Ahrela was appointed the Managing Director of the company as of 1 September.

Changes in the cent higher than in the previous year. Agency and eShipping, was started operating environment Operative profitability improved, al- and the Balanced Scorecard was in- The shipowners demand for sea ship- though it did not yet reach a satisfac- troduced as a part of the management ments developed positively in almost tory level. Non-recurring losses in- system. The set of indicators compris- every sector; particularly active was curred by the discontinuation of ship- es several quality factors subject to the export to and import from the Far owner and freighting operations were systematic monitoring. East. The recovery of the Russian econ- also registered for this financial year. omy increased demand for transit The amount of the group's overseas Forecast for the year 2001 shipping, which also had an impact on transportations was 30,803 TEU. Ow- The forecast in the branch is quite sea transportation. Freight level in the ing to structural changes in the cli- good. The volume of Finland's foreign shortsea traffic of the Baltic Sea area ent field, the amount decreased 4 per trade and the demand for sea trans- remained stable regardless of the in- cent from the previous year. The vol- portation are stable and provide a creased operating costs of the vessels. umes in shortsea traffic developed fa- solid foundation for future prospects The utilization rate of vessels in ocean vourably in comparison with the pre- of growth. The recovery of the Rus- container traffic remained high, which vious year, showing a growth of 66 per sian economy as well as the end of the enabled favourable freight develop- cent. The number of freight units economic recession in the Far East ment in the group's major traffic are- transported was 44,493. The strong have increased the demand for trans- as. Alliances of container shipowners growth was a result of the opening of portation. The company's success is strengthened the shipowners' market Polar Line traffic between Oulu and primarily dependent on skilled per- position further. The demand for port Hamburg in March. Port Agency serv- sonnel and the ability to produce con- agency services remained active. ices processed 3,482 visiting ships in tinuously added value at a competi- The business structure of the group Finnish harbours, that is 7 per cent tive price. A profound understanding was streamlined by merging the port more than the year before. The total of the customers' needs is a central agency operations of Oy SL Shipping number of visiting ships registered in factor in the future success. Ltd. and the operations of Nurminen the harbours of the Baltic States, St In port agency operations, main Port Agency Oy into Fimag Oy, and by Petersburg and Norway was 930. At market areas are considered to in- dividing the operations of the shipping the end of the year, the Shipping clude Finland, the Baltic States, the group into three companies: Fimag, group employed ninety-two people. Nordic countries, and north-western Nurminen Deepsea, and Mascot. A major business development pro- Russia, more precisely the area of The organization structure was also gramme, the Uljas project, was start- St Petersburg. reformed: operations were divided into ed in November. The purpose of this The main market areas in the lin- profit areas corresponding to the busi- programme is to support the launch- er operations will be the Baltic Region ness concept. These areas are overseas, ing of the new business strategy and for shortsea traffic, and the Far East, shortsea, and shipping agency servic- to improve the efficiency and quality North America, South America, and es. The company relinquished unprof- of the existing business processes. As Australia for overseas traffic. The itable freighting and shipowner serv- a part of the project, a comprehensive objective of liner operations is to con- ices. Client portfolio in overseas traf- development of personnel was start- struct a global sea transportation con- fic was developed to correspond to the ed with a survey of competence, where cept which will be promoted to the in- renewed business strategy. the capabilities of the personnel are dustries and trade of the domestic compared with the requirements set market. In the future, the objective is The year 2000 by the strategy. to expand the operating area to the The turnover of the group amounted The development of new business Baltic States and Russia. to FIM 45 million, which was 5 per concepts, such as the Virtual Port

17 GlobeGround Finland servicing aeroplanes at the Helsinki-Vantaa airport.

18 John Nurminen Group’s affiliate companies

KLG Eesti AS GlobeGround Finland Oy and By purchasing a 42 per cent share in Nurminen Airport Services Oy Latvian-Finnish Maritime KLG Eesti AS at the beginning of the In October, John Nurminen Oy sold Agency Ltd year, Nurminen Prima Oy implemen- the majority of the shares in Nurmi- Together with Latvian Shipping Com- ted its internationalization strategy nen Ground Services Oy to the Ger- pany, John Nurminen Oy holds 40 per and expanded its operation area. man-based GlobeGround GmbH. The cent of the shares in Latvian-Finnish Founded in 1994, the company with purpose of this transaction was to in- Maritime Agency Ltd founded in 1993. offices in Tallinn, Riga and Vilnius tegrate the local expertise in ground The company is based in Riga and is operates in the business of interna- handling services into a leading in- engaged in port agency operations, lin- tional removals and domestic busi- ternational operating network and to er shipping services, chartering and ness removals. Its range of services ensure company´s competitiveness in forwarding operations. Based on the was extended to exhibition logistics. the Finnish ground handling market. number of visiting ships, Latvia-Finn- The company is a market leader of its GlobeGround Finland Oy operates ish Maritime Agency is the second branch in the Baltic States and is a at the Helsinki-Vantaa airport, where- largest port agency company in Latvia. member of UTS International, an or- as Nurminen Airport Services Oy, the The company’s principals in liner ship- ganisation specialised in internation- subsidiary of GlobeGround Finland Oy, ping services include CCM and Latvi- al removals. supplies services at the airports in Jy- an Shipping Company. KLG Eesti´s turnover amounted to väskylä, Oulu, Pori, Rovaniemi, Tam- The Baltic region and northwest- FIM 2.2 million. At the end of the year, pere, Turku and Vaasa, the busiest re- ern Russia are the most important the company employed 12 people. gional airports in Finland. Both com- market areas of shipping group´s port Due to tough competition, the compa- panies provide and sell ground hand- agency and short sea traffic. The fu- ny failed to reach its targets and the ling services for airlines. These ser- ture internationalization objective is budgeted turnover. Nevertheless, the vices are divided into four main to strengthen service offerings on the company’s customer base widened, groups: passenger services, traffic Baltic region, Russia and the Nordic with hotels, such as Radisson SAS, as services, ramp operations and freight countries. new customer group. The company terminal operations. The company’s turnover amount- was commissioned to provide fittings The combined turnover of the com- ed to FIM 8.3 million and the total and fixtures for an extension of the panies for 2000 totalled FIM 109.4 number of people employed was 40. Stockmann department store, which million and the total number of per- was one of its largest projects. sonnel was 385. With the company acquisition, Nurminen Prima Oy aims to increase its market share in art logistics and fair and exhibition forwarding with- in the Baltic States. This co-operation has enabled KLG Eesti to improve its service quality by adopting new oper- ating models and by reinforcing its capabilities in the international mar- ket.

19 Consolidated profit and loss account

FIM million 1.1.–31.12.2000 1.1.–31.12.1999

Gross sales 1,946.1 1,797.5 Customs duties and taxes 28.1 26.3 Ias-turnover 1,918.0 1,771.2 Sales adjustment items 1,531.9 1,394.3 Net turnover 386.1 376.9 Other operating income 55.8 9.1

Costs External charges 51.7 52.2 Staff costs 185.2 184.7 Depreciations 62.1 35.3 Other operating costs 123.5 103.8 422.5 376.0

Operating profit 19.4 10.0

Financial income and expenses -2.9 -5.0

Profit before extraordinary items 16.5 5.0

Extraordinary items -8.7 0.2

Profit before income taxes 7.8 5.2

Income taxes -4.8 -1.9

Profit for the period 3.0 3.3

Minority interest 0.1 0.1

Consolidated profit 3.1 3.4

20 Consolidated balance sheet

ASSETS, FIM million 31.12.2000 31.12.1999

Non-current assets Intangible assets Goodwill 13.2 61.0 Other capitalized expenditure 8.9 11.3 22.1 72.3 Tangible assets Land and water 0.6 0.6 Buildings 65.1 103.6 Machinery and equipment 21.7 41.4 87.4 145.6 Investments Shares of partly owned companies 4.8 1.6 Other bonds and shares 5.3 5.7 10.1 7.3 Current assets Receivables Trade receivables 124.1 135.7 Loan receivables 0.4 4.3 Prepaid expences and accrued income 65.1 23.7 Other receivables 10.9 16.4 200.5 180.1

Cash in hand and at banks 56.3 7.6

Total 376.4 412.9

EQUITY AND LIABILITIES, FIM million 31.12.2000 31.12.1999

Shareholders equity Share capital 2.6 2.6 Reserve fund 25.3 25.3 Retained earnings 135.2 131.9 Profit for the period 3.1 3.4 166.2 163.2

Minority share 5.4 5.8

Liability Non-current Loans from credit institutions 32.6 48.2 Deferred tax liability 5.1 7.5 Other non-current liabilities 0.0 0.6 37.7 56.3 Current Loans from credit institutions 16.1 16.0 Advances receivables 5.4 5.1 Trade payables 96.7 101.3 Accrued liabilities and deferred income 31.8 36.7 Other current liabilities 17.1 28.5 167.1 187.6

Total 376.4 412.9

21 Key Figures

Gross sales, FIM million Net turnover, FIM million

Profit after financial items, FIM million Profit after financial items, % turnover

Return on investment (ROI), % Equity Ratio %

Investments, FIM million Personnel

ROI, % = Profit after financial items + Financing costs x 100 Balance sheet total - Interest-free liabilities (average)

Equity Ratio, % = Shareholders' equity + Minority interest x 100 Balance sheet total

22 Shares and holdings by branch

The Group's share Nominal Book value of ownership, % Quantity value FIM FIM thousand

REAL ESTATE Kiinteistö Oy Pasilankatu 2 68.7 6,900 400 42,876 Kiinteistö Oy Nurminen Air Center 100.0 5,845 1,800 10,521

SPECIAL LOGISTICS Nurminen Prima Oy 100.0 1,500 1,000 1,500 Nurminen Heavy Oy 100.0 480 1,500 3,899 Nurminen Lovisa Shipping Oy 100.0 1,500 1,000 1,502 Nurminen Cargo Handling Oy 100.0 1,400 500 761 Nurminen Border Services Oy 100.0 50 1,000 50 Hamina Cargo Terminal Oy 100.0 3,600 10 49

BUSINESS TRAVEL KalevaTravel Ltd 100.0 700,000 10 7,455 Euroopan Retket Oy 100.0 150 100 15

SHIPPING Finnish Maritime Agencies Oy FIMAG 100.0 7,000 1,000 7,000 Nurminen Deepsea Oy 100.0 1,500 1,000 1,500 Mascot Maritime Shipping Co Oy 100.0 150 1,000 150 Oy SL-Shipping Ltd 100.0 2,100 10,000 22,168 Oy Saimaa Lines Shipping Ltd 100.0 300 1,000 0 Nurminen Chemicals Oy 100.0 500 100 1,071 Nurminen Port Agency Oy 100.0 2,000 38 0 Aviation Center Oy 100.0 500 100 5,605 Fimag Norway AS 100.0 100 74 74

AFFILIATE COMPANIES

Special Logistics KLG Eesti AS 42.0 420 714 300 Oy Turku Stevedoring Ab 42.0 242 1,000 249

Ground Handling Services Nurminen Ground Services Oy 34.0 1,020 1,000 1,087

Shipping Murmansk Maritime Agencies 70.0 33 33 Baltfinn Kaliningrad 50.0 500 49 Cosfim Oy 50.0 150 150 Latvian Finnish Maritime Agency Ltd 40.0 50 260 260 Penta Maritime Agency Ltd 40.0 40 159 159

23 Top Level Services

The President of the United States, Ronald Reagan, the President of the Uni- 1982 Jimmy Carter paid a visit to Nordic 1988 ted States, and the first lady Nancy with Rastor-Børsen Executive Club in Finland on 20 May their top retinue on their way to Moscow paid a flying 1982. The president’s and the first lady’s short visit in visit to Helsinki on 26–30 May 1988. The VIP visitors Finland called for a lot of measures to be taken; the travelled by US Air Force aircraft, and Nurminen Air retinue included even nineteen security men. Nurmi- deserved all the credit for ground handling services nen Air was in charge of the ground handling services provided. at the airport.

24 The President of the United States, In 2000, the Nurminen Trainee Programme 1990 George Bush and the first lady Barbara 2000 recruited seven young university gradua- flew to Helsinki to meet the President of the Soviet tes, who became employed by the Group companies. Union, Michail Gorbachev on 8 September 1990. This Through on-the-job training and JN Academy’s prepa- historic top-level meeting between the two leaders clo- ration courses, the trainees are provided with skills sely related to Nurminen, who had for years provided needed in expert and managerial positions. This is a ground handling services for the US embassy. guarantee for superior future services – and not only for the needs of the presidents.

25 The John Nurminen Foundation

The John Nurminen Foundation was established in 1992. The Foundation fo- cusses on preserving the history and cultural traditions of international seafar- ing. The Foundation owns a considerable collection of marine antiquities, avail- able for viewing by researchers and enthusiasts in the field. The John Nurmi- nen Foundation has also published several books on the history of seafaring.

The main event of the John Nurmi- representing the cultural heritage of The Northeast Passage, Mare Balti- nen Foundation during the year was navigation date back from the eight- cum, Suomenlahden albumi, and Pen- a substantial sea-related art exhibi- eenth century to the early decades of ang pitkillä aalloilla, remained on sale. tion, Taide ja meri – Itämeren meri- the twentieth century. The antique maps of the John maalareita (Art and Sea – Painters The Art and Sea exhibition was Nurminen Foundation were on loan of the Baltic Sea) in the crypt of the one of the noteworthy events of Hel- for the exhibition Yhdestoista hetki Helsinki Cathedral from 23 Septem- sinki’s year as a European City of (The Eleventh Hour) at the Sinebry- ber to 19 November 2000. The exhi- Culture, attracting a great deal of choff Art Museum and for the exhibi- bition comprised 131 historically val- attention and publicity. The number tion Ships Lost at Sea in the Meri- uable paintings, borrowed from the of visitors was 30,250. kaapelihalli exhibition room ar- major museums of the Baltic Sea In conjunction with the exhibition, ranged by the Maritime Museum of area, from Russia, Sweden, Germa- a book titled Taide ja meri/Konst och Finland. Items belonging to the ny, Latvia, Estonia and Ukraine. hav (Art and Sea) was published as Foundation were also on display in Some of the paintings were on loan the first art book on sea paintings in the Snellman Hall at the exhibition from Finnish maritime museums, Finland. The number of copies print- Terra Cognita of the University of private collections, different organi- ed was 3,000. Both the exhibition Helsinki. sations and the Foundation’s own col- and the book were welcomed by the The editing of the book Ultima lections. Many of them were on display public and praised by critics. The Thule continued, and this non-fiction for the first time in Finland. Paintings Foundation’s earlier publications, of 352 pages will be published in Finnish, Swedish and English in the autumn of 2001. The book, illustrat- ed with unique images, describes the history of northern exploration and cartography. The Foundation will publish the book in cooperation with the publishing house Werner Söder- ström Osakeyhtiö. In addition to editing the book, the Foundation continued to make prepa- rations for the Ultima Thule exhibition. The exhibition will open at the Muse- um of Cultures in Helsinki on 15 Octo- ber 2001 for some five months. In the spring of 2002 it will be moved to the National Maritime Museum in Stock- holm, Sweden, and in 2003 further to Oslo, Norway. During the planning process of the exhibition, researchers have found a great deal of new infor- President of the Republic, Martti Ahtisaari, mation, documents and items that and Mrs Eeva Ahtisaari visited the Founda- have not previously been displayed, tion in the Huolintatalo Building and became which gives the project an additional acquainted with its operations and collec- appeal with regard to the media. tions. In the spring the Foun- dation employed a project manager to take charge of the preparation and implementation of the Ultima Thule exhibition project, The Art and Sea exhibition at the Crypt of the Cat- and in the summer a marketing hedral of Helsinki was one of the noteworthy events manager to operate the sales of the Foundation’s literature and exhibi- of Helsinki’s year as a European City of Culture. tions. The John Nurminen Foundation has increased its collections by ac- During the year, the Foundation quiring antiquarian literature and was accepted as a member in the maps and by having made miniatures ICOM (International Council of Mu- of historically significant ships. Dur- seums) and the Hakluyt Society, an ing 2000 the Foundation had three association cherishing maritime her- miniatures made in St Petersburg itage. and London: an ancient Danish boat The Foundation has called Hjortspring is estimated to supported inde- date back to the fourth century; Ed- pendent re- ward Parry’s ship Hecla; and Fridt- search, and jof Nansen’s ship Fram. The Founda- at the end of tion acquired some thirty antiquari- the year had an maps. The total value of the ac- two full-tim- quisitions amounted to approximate- ers as well as ly FIM 300,000. two fixed-term President of the Republic Martti employees in- Ahtisaari and Mrs Eeva Ahtisaari volved in the Ul- visited the Foundation in the Huolin- tima Thule project. tatalo Building and became acquaint- The assets of the John Nurminen ed with its operations and collections Foundation at the end of the year in February. amounted to FIM 17.7 million.

27 Board Members

Juha Nurminen, Jan Heikkilä, Matti Lainema, Rolf Saxberg, Kenneth Huomo, b. 1946 b. 1936 b. 1939 b. 1944 b. 1949 Chairman of the Board M.Sc.(Econ. & Bus.Adm.), D.Sc.(Econ. & Bus.Adm.) M.Sc.(Econ. & Bus.Adm.) Board Secretary, M.Sc. (Econ. & Bus.Adm.) Commercial Councellor not a member M.Sc (Econ. & Bus. Adm.) Chairman of the Board: Board member: Chairman of the Board: Chaiman of the Board: Financial Director John Nurminen Foundation John Nurminen Foundation Markkinointi Viherjuuri Oyj Esbogård Aktiebolag John Nurminen Oy Board member: Member of the Super- Tamglass Ltd Oy Hallitusforum Oy Finnish Medical visory Board: Rakennustoimisto Kuljetusliike Hakonen Oy Foundation The Eye and Tissue Bank Pohjola Oy foundation, Finland Board member: Finnish Life-boat Hakaniemen Metalli Oy AG-Partners Corporate Society Board member of Finance Oy Consultative Committee of Reka Oy. Indoor-Group Oy the Naval Reserve LVIS-Teklog Oy Sail Training Association Managing Directors Finland

Jan Lönnblad Jouni Ahrela Pentti Flink Tapani Raunio John Nurminen Oy Finnish Maritime Nurminen Prima Oy Nurminen Cargo Handling Oy Agencies Oy FIMAG Mascot Maritime Shipping Co Oy Nurminen Deepsea Oy

Folke Roberts Jukka Silvasti Hannu Vuorinen Marcus Weintraub Nurminen Lovisa Shipping Oy Nurminen Heavy Oy Nurminen Heavy Oy KalevaTravel Ltd Retired December 31. Until November 30. As of December 1.

28 Contact information

John Nurminen Oy Nurminen Cargo Handling Oy Mascot Maritime Pasilankatu 2 Vanha Porvoontie 231 Shipping Co Oy 00240 Helsinki 01380 Vantaa Palkkatilanportti 2 Phone +358-9-150 71 Phone +358-9-8386 520 00240 Helsinki Fax +358-9-150 7482 Fax +358-9-8386 5210 Phone +358-9-4132 7100 Email [email protected] Email [email protected] Fax +358-9-4132 7111 Homepage www.nurminen.fi Homepage www.nch.fi Email [email protected] Homepage www.nurminen.fi

Nurminen Prima Oy Nurminen Lovisa Shipping Oy Nurminen Deepsea Oy Vanha Porvoontie 231 07910 Valko Pasilankatu 2 01380 Vantaa Phone +358-19-517 130 00240 Helsinki Phone +358-9-5843 700 Fax +358-19-515 780 Phone +358-9-140 266 Fax +358-9-5843 7272 Email Fax +358-9-150 7549 Email [email protected] [email protected] Email [email protected] Homepage www.nurminen.fi Homepage www.nurminen.fi Homepage www.nurminen.fi

Nurminen Heavy Oy KalevaTravel Ltd John Nurminen Foundation Kiilatie 1 Pasilankatu 2 Pasilankatu 2 40320 Jyväskylä 00240 Helsinki 00240 Helsinki Phone +358-14-283 088 Phone +358-9-618 11 Phone +358-9-618 1222 Fax +358-14-283 356 Fax +358-9-618 1209 Fax +358-9-618 1577 Email [email protected] Email [email protected] Email [email protected] Homepage www.heavy.nurminen.fi Homepage www.kalevatravel.com Homepage www.nurminen.fi

Nurminen TransMec Oy Finnish Maritime Vanha Porvoontie 231 Agencies Oy FIMAG 01380 Vantaa Pasilankatu 2 Phone +358-9-8233 633 00240 Helsinki Fax +358-9-8233 677 Phone +358-9-148 3070 Email Fax +358-9-145 737 [email protected] Email [email protected] Homepage www.nurminen.fi Homepage www.nurminen.fi Corporate Management Pasilankatu 2 FIN-00240 Helsinki Phone +358 9 150 71 Fax +358 9 150 7482 [email protected]

www.nurminen.fi Spokesman Oy / Art-Print Oy 2001