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Componenta Oyj — Regulatory Filings 2011
Oct 18, 2011
3307_rns_2011-10-18_c8ed92ac-f99d-45e3-8ce2-7f8acb0d1713.pdf
Regulatory Filings
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COMPONENTA
STOCK EXCHANGE RELEASE
18.10.2011 at 9.00
Componenta to start statutory negotiations at Componenta Finland
Nisamo concerning possible closure of the business unit
Componenta is starting statutory negotiations, as stipulated in the Finnish Act on Cooperation in Undertakings, in Componenta Finland Ltd. Nisamo on 18 October 2011. Componenta is planning to terminate operations of the business unit. Profitability of the machine shop located in Lempäälä, Finland has been weak for a long period of time and its cash flow is negative. In addition, the business unit's order book and future outlook are weak. Negative development of production volumes has mainly been caused by changes in wind power customer segment.
The statutory negotiations cover the Nisamo machine shop personnel in total of 34 people. Actions based on negotiations will be realized during the second quarter of 2012 at the latest.
One-time costs of possible terminating of operations are expected to be EUR 2.8 million.
To achieve its strategic goals of growing together with customers and being the preferred casting solutions provider for its customers, Componenta has to have competitive, profitable operations with a corporate structure that supports them.
Helsinki, 18 October 2011
COMPONENTA CORPORATION
Heikki Lehtonen
President and CEO
Further information:
Heikki Lehtonen
President and CEO
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.
Componenta Corporation
Panuntie 4
FI-00610 Helsinki, Finland
Tel. +358 10 403 00
Fax +358 10 403 2721
www.componenta.com
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