Cencorp Corporation Stock Exchange Release 29 January 2013 at 09.40
CENCORP STARTS CONDUCTIVE BACK SHEET (CBS)DELIVERIES TO A MAJOR CHINESE SOLAR PHOTOVOLTAIC (PV) MODULE MANUFACTURER DURING THE FIRST HALF OF 2013
Cencorp Corporation (”Cencorp”) published in November 2012 that the company signed a Memorandum of Understanding (MOU) on delivering Conductive Back Sheets (CBS) to one of the leading Chinese photovoltaic (PV) module manufacturer. The value of the MOU is expected to be ca. EUR 20 million at its minimum over the course of the next three years. The Memorandum of Understanding is non-binding.
Cooperation described in the MOU has proceeded as planned during the fourth quarter of 2012 and in January 2013. According to the customer’s latest written estimate CBS mass deliveries commences during the first half of 2013. Based on the current knowledge Cencorp expects demand to increase toward the end of the year. Cencorp still believes that the value of the deliveries will be ca. EUR 20 million at its minimum over the course of the next three years, as estimated earlier. Components will be manufactured at Cencorp’s plant in Beijing, where required capacity is allocated, based on forecasts.
Cencorp considers itself to be the only next generation CBS manufacturer with significant mass production capacity in the world.
According to external experts’ estimations the global CBS market is expected to grow into billions of Euros by the year 2020. Cencorp trusts the company is well prepared to meet the expected growing demand.
Cencorp is also negotiating with several other major PV module manufacturers and their customers.
The final terms of an agreement are still under negotiations, thus execution of the agreement is not yet guaranteed.
In Mikkeli, 29 January 2013
Board of Directors
For more information, please contact:
Iikka Savisalo, President and CEO, tel. +358 40 521 6082,
NASDAQ OMX, Helsinki
Cencorp Corporation is a leading provider of industrial automation solutions. The equipment included in the product portfolio designed for depaneling, odd-form assembly, testing and laser materials processing substantially improves the efficiency of customers' production. The product range also includes EMI shielding solutions, RFID antennas, other flexible circuits including for example conductive back sheets used in photovoltaic modules and mobile phone antennas. Cencorp's customers are manufacturers of automotive electronics, mobile phone antennas and photovoltaic modules as well as manufacturers operating in telecommunications and in industrial automation. Cencorp's head office is located in Mikkeli, Finland. The company is part of the Finnish Savcor Group.