CENCORP CORPORATION STOCK EXCHANGE RELEASE 13.05.2008 AT 09:02 AM CENCORP CORPORATION STARTS REARRANGEMENTS RELATED TO IMPROVING OF PROFITABILITY AND CUSTOMER SERVICE The Board of Cencorp Corporation has decided as a part of it's actions to increase the productivity and improve the fixed cost efficiency and customer service to examine the possibilities for rearrangements in Lohja and Salo sites, in Singulase Oy as well as in its foreign subsidiaries. Target of the rearrangements is approximately 2.5 million euros savings in fixed and operational costs. Due to the rearrangements, Cencorp Corporation will register non-recurring costs approximately EUR 0.9 million for the second quarter of year 2008. Therefore Cencorp Corporation has decided to start personnel negotiations in Lohja and Salo sites, in Singulase Oy and in its Sweden based subsidiary on the financial and production-related as well as on the restructuring related grounds. The negotiations concern personnel of Cencorp Corporation and Singulase Oy as whole in Finland and in Sweden. Maximum amount of terminations in Finland is 40 employees. Furthermore, Cencorp Corporation examines different options related to receiving its American subsidiary profitable as well as possibilities to out-source its operations in France to local distributor, who will act as sales and service representative of the products of Cencorp Corporation in France in the future. CEO of Cencorp Corporation Changes The Board of Cencorp Corporation and CEO Mr. Jouni Suutarinen have signed an agreement concerning termination of cooperation. Company would like to thank Mr. Jouni Suutarinen for strong commitment to developing of the Company in difficult turning point. The Board of Directors starts its search for a new CEO. Mr. Hannu Seppälä (B.1959), Vice President, tester business has been appointed as acting CEO starting on May 13, 2008. Mr Seppälä previously worked as entrepreneur in test solutions. Cencorp Corporation acquired his company, Salon Hannu Seppälä Oy, in 1999. Management team member of Cencorp Corporation Mr. Seppälä has been since 2001. Lohja, May 13, 2008 Cencorp Corporation BOARD OF DIRECTORS Further information: Mr. Turo Levänen Chairman of the Board +358505697626 Cencorp develops and supplies automation solutions to the electronics and semiconductor industry that enhance productivity. Distribution: Helsinki Stock Exchanges Main media www.pmjautomec.com Neither this press release nor any copy of it may be taken, transmitted into or distributed in the United States of America or its territories or possessions.
CENCORP CORPORATION STARTS REARRANGEMENTS RELATED TO IMPROVING OF PROFITABILITY AND
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