VAAHTO GROUP PLC OYJ STOCK EXCHANGE RELEASE 29.10.2007 VAAHTO LTD HAS SOLD SPIRAL HEAT EXCHANGER PRODUCTION TO HES HEAT EXCHANGER SYSTEMS GMBH Vaahto Ltd, a subsidiary of Vaahto Group, has on October 29th, 2007 made an agreement of selling the spiral heat exchanger assets to German HES Heat Exchanger Systems GmbH. The purchase includes the production line of spiral heat exchangers with its machines and equipments as well as the intangible rights related to it. According to agreement, Vaahto Ltd will be responsible for manufacturing and delivering the projects included in the current order backlog. The machinery and equipment as well as the possession rights to them will be transferred to the buyer in stages during the spring 2008. The production line of the spiral heat exchangers has been operated in Vaahto Ltd's plant in Hollola. The meaning of this operation is to transfer production capacity and add resources in Hollola plant to the Pulp & Paper Machinery -business, which has grown remarkably in the Group during the recent years. The turnover of the spiral heat exchangers has been in the range between 2-4 million euros during the last few years. Vaahto Ltd will book a profit from the sale of the assets, but the final result of the sale will be affected by the cost that may occur from the closing of production as well as the results of the sale of the inventories. The sale conditions of the inventories of the materials and components related to the spiral heat exchanger production will be specified later. Lahti, October 29, 2007 VAAHTO GROUP PLC OYJ The Board Information: Antti Vaahto CEO, Vaahto Group Plc Oyj tel. +358 40 8232835
VAAHTO LTD HAS SOLD SPIRAL HEAT EXCHANGER PRODUCTION TO HES HEAT EXCHANGER SYSTEMS GMBH
| Source: Plc Uutechnic Group Oyj