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Componenta Oyj — Share Issue/Capital Change 2012
Jan 24, 2012
3307_rns_2012-01-24_7d028438-691d-47ca-a908-5606423bf778.pdf
Share Issue/Capital Change
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STOCK EXCHANGE RELEASE
24.1.2012 at 8.25
Componenta to strengthen its balance sheet
Share issue and a hybrid bond, totalling EUR 20 million
Componenta's Board of Directors has decided on measures to strengthen the Group's balance sheet. In March 2012 Componenta will carry out the strengthening of equity by altogether EUR 20 million through an increase in share capital and a hybrid bond. Current shareholders in the company whose holding in the company amounts to more than 50%, have stated that they intend to participate in the share issue. Marketing of the hybrid bond will begin in February 2012.
Divestment of Manisa wheel business unit
In addition, Componenta has started the process of selling off the unit in Manisa, Turkey, that produces aluminium wheels. The unit had net sales in 2011 of EUR 45 million, EBITDA was just under EUR 9 million, and it employs almost 400 people.
Through these measures combined with the cash flow from operations in 2012, the Group believes it can reduce its interest-bearing debt by about one third.
Helsinki, 24 January 2012
COMPONENTA CORPORATION
Heikki Lehtonen President and CEO
For further information, please contact: Heikki Lehtonen President and CEO
Mika Hassinen CFO tel. +358 10 403 2723
tel. +358 10 403 2200
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 576 million in 2011 and its share is listed on the NASDAQ OMX Helsinki. The Group employs approx. 4,700 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 Domicile Helsinki, Finland /// Business ID 1635451-6 /// VAT.reg FI16354516