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Continued competition in the paper and forest product industry may impact profitability and thus require major capital expenditure.
Significant capital investments, including future acquisitions, may be necessary to achieve planned growth.
The growth plan depends in part on achieving successful acquisitions or mergers and failure to do so could have an impact on competitiveness; new acquisitions may also change the risk profile of the Group.
The value of investments in countries outside Western Europe and North America may be affected by political, economic and legal developments in those countries.
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