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Componenta Oyj — M&A Activity 2011
Dec 15, 2011
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M&A Activity
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Componenta to sell the business operations of the Nisamo machine shop
Componenta to sell the business operations of the Nisamo machine shop
Componenta Corporation Stock Exchange Release 15.12.2011 at 14.15
Today, Componenta Finland Ltd, a subsidiary of Componenta Corporation, signed
an agreement on selling the business operations and production machinery of the
Nisamo machine shop, located in Lempäälä, Finland. The buyer is a subsidiary of
Tampereen Konepajat Oy and will continue machining operations at the current
Nisamo premises as a machining subcontractor for Componenta. The impact of the
sale of the Nisamo machine shop operations on Componenta's result for 2011 is
EUR -2.0 million instead of estimated costs of EUR -2.8 million due to
terminating of operations.
The agreement will end the statutory negotiations that began at Componenta
Finland Nisamo on 18 October 2011 concerning possible closure of the business
unit. The machine shop personnel will continue with the company under the new
ownership, with unchanged terms and conditions of employment.
The sale of the Nisamo machine shop will have no impact on Componenta's
customer deliveries, which will continue as before, with the new owner of the
machine shop operating as a machining subcontractor for Componenta.
Componenta is a significant provider of cast components and solutions made
thereof. Our operations encompass the entire supply chain of components, from
engineering to casting, machining and logistics services. As before, most of
the components cast by the Group will be machined in the Group's machine shops
located in Sweden and Turkey. In addition, machining will be subcontracted, if
necessary.
The sold business operations will be transferred to the new owner on 31
December 2011.
Helsinki, 15 December 2011
COMPONENTA CORPORATION
Heikki Lehtonen
President and CEO
Further information:
Heikki Lehtonen
President and CEO
tel. +358 10 403 00
Yrjö Julin
COO
tel. +358 10 403 00
Componenta is a metal sector company with international operations and
production plants located in Finland, Turkey, the Netherlands and Sweden. The
net sales of Componenta were EUR 452 million in 2010 and its share is listed on
the NASDAQ OMX Helsinki. The Group employs approx. 4,400 people. Componenta
specializes in supplying cast and machined components and total solutions made
of them to its global customers who are manufacturers of vehicles, machines and
equipment.
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