Componenta Corporation Stock Exchange Release on 29 July 2016 at 15.30
Componenta Corporation announced on 24 March 2016 that as part of the company’s financial solution it is surveying the divestment of its non-core business units and negotiating the divestment of the Componenta Pistons unit that manufactures pistons and is located in Pietarsaari, Finland.
Componenta Corporation has today signed an agreement relating to the sale of the Pistons unit with Koncentra Pistons Oy, a wholly owned subsidiary of Koncentra Verkstad AB. The closing of the transaction is conditional and requires, among other things, that purchaser completes its financing arrangement.
Parties’ objective is to finalize the transaction within the next weeks.
Componenta Pistons offers piston solutions to leading medium speed diesel engine manufacturers, applying state-of-the-art R&D methods and modern production technology. Pistons is located in Pietarsaari, Finland and employs some 40 people. Pistons net sales in 2015 was EUR 6 million. The divestment will not have a material impact on Componenta Group’s result or financial position.
Helsinki, 29 July 2016
COMPONENTA CORPORATION
Harri Suutari
President and CEO
For further information, please contact:
Harri Suutari
President and CEO
tel. +358 400 384 937
Markku Honkasalo
CFO
tel. +358 10 403 2710
Componenta is a metal sector company with international operations and production plants located in Finland, Turkey, the Netherlands and Sweden. The net sales of Componenta were EUR 495 million in 2015 and its share is listed on Nasdaq Helsinki. The Group employs approx. 4,250 people. Componenta specializes in supplying cast and machined components and total solutions made of them to its global customers, who are manufacturers of vehicles, machines and equipment.