CENCORP CORPORATION STOCK EXCHANGE RELEASE 16 February 2015 at 17.50 Finnish time
CENCORP MAKES A WRITE-DOWN OF EUR 3.0 MILLION IN THE ASSETS RELATED TO ITS FACTORY IN BEIJING
Cencorp Corporation has not been able to find a buyer for the production of RFID components and flexible electronics for mobile phones who could utilize the technology in its production. Thus Cencorp makes a write-down of EUR 3.0 million in the assets related to its factory in Beijing. The company has already earlier on 20 August 2014 made a write-down of EUR 3.2 million in the assets related to the Beijing factory and transferred the production of Conductive Back Sheets for solar modules to its factory in Mikkeli. After the write-down the value of the Beijing factory has been totally written down. However, despite the write-down Cencorp continues to take actions to sell the technology and production machinery related to the production of RFID components and flexible electronics for mobile phones.
In Mikkeli 16 February 2015
Cencorp Corporation
Board of Directors
For more information:
Iikka Savisalo
President and CEO
Cencorp Oyj
Tel. +358 40 521 6082,
Email: iikka.savisalo@cencorp.com
Distribution:
NASDAQ OMX, Helsinki
Main media
www.cencorp.com
Cencorp Corporation specializes in the clean energy, especially in photovoltaic solutions. Cencorp provides automated production technology for solar modules based on the company’s own technology; production lines for modules; solar modules and special components for solar modules. Cencorp's head office is located in Mikkeli, Finland. The company is part of the Finnish Savcor Group.