Cencorp Corporation Stock Exchange Release 20 February 2013 at 17.20 Finnish time
CENCORP’S PHOTOVOLTAIC MODULE FACTORY WILL BE BUILD IN MIKKELI
Cencorp has decided to set up its photovoltaic module factory in Mikkeli, Finland. In Finland the company has already operations in Salo and in Mikkeli. The factory is expected to be ready early 2014.
“In January Cencorp acquired Sunweb Solar Energy Holding B.V’s photovoltaic module business and related pilot production line, the Sunweb trademark as well as the patents and other intellectual property rights relating to the business. The transaction creates a solid base for the final objective: to manufacture a photovoltaic module production line, based on Cencorp's own engineering and automation know-how, in Mikkeli. My current estimation is that the factory's turnover will exceed EUR 50 million when operating at full capacity. Sales negotiations on the plant's production capacity are going on with several foreign distributers. Cencorp expects to receive its first orders for the modules already in 2013”, says Iikka Savisalo, Cencorp’s CEO.
Cencorp's transition from a company manufacturing only production automation applications and special components into a company, having a special edge in laser and automation technology, that develops and provides Cleantech solutions possessing a strong market position as a provider of locally produced, high-quality photovoltaic modules, involves risks. Even though Cencorp's strategy and objectives are based on market knowledge and technical surveys, the risks are significant and it is not certain if the company reaches all or part of the targets set for it. Cencorp's future outlook will be highly dependent on the company's ability to reach the targeted market position in the global photovoltaic module market as well as on the company's long-term financing.
In Mikkeli, 20 February 2013
Cencorp Corporation
Board of Directors
For more information:
Iikka Savisalo, President and CEO, tel. +358 40 521 6082,
iikka.savisalo@cencorp.com
Distribution:
NASDAQ OMX, Helsinki
Main media
www.cencorp.com
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.