NEO INDUSTRIAL OYJ STOCK EXCHANGE RELEASE June 28, 2012 at 1.30 pm
Neo Industrial is writing off EUR 6.4 million on the share of Finndomo Ltd on the Q2/2012 result. After the write-offs Finndomo has no value on the balance sheet of Neo Industrial. At the same time Neo Industrial gives up the Single Family Housing Segment.
The liquidity of Finndomo, now under corporate restructuring process, has not improved in spite of saving measures and centralization of business operations. The operation of Sonkajärvi factory has been sold to Omatalo Ltd. Omatalo has high volume of orders and over 100 employees in Sonkajärvi.
Finndomo is continuisly trying to find a solution for the future operation of Hartola factory and window factories in Haukipudas.
Neo Industrial Plc
Markku E. Rentto
Managing Director
Further information:
Markku E. Rentto, Managing Director, tel. +358 207 209 191
Neo Industrial's strategy is to invest mainly in industrial companies with similar synergic benefits. The aim of investments is with active ownership to develop the purchased companies and establish additional value. Returns are sought through both dividend flow and an increase in value. Neo Industrial's class B shares are listed on the NASDAQ OMX Helsinki Stock Exchange.
Neo Industrial's business segments are Cable, Viscose Fibers and Single Family Housing.