Finland, 2011-06-01 08:00 CEST (GLOBE NEWSWIRE) --
EFORE PLC Stock Exchange Release June 1, 2011 at 9.00 a.m.
EFORE PROCEEDS ACCORDING TO STRATEGY AND SELLS ITS ASSOCIATED COMPANY IN GERMANY
Efore Plc focuses further on its selected target markets; telecommunication, industrial power electronics and power products for electric vehicles and has sold its 25% holding in Power Innovation Stromversorgungstechnik GmbH on May 31, 2011.
This arrangement has no effect on the result of operating activities but it will improve Efore Group’s third quarter net result by EUR 0,8 million.
The arrangement will be completed during the current fiscal year.
EFORE PLC
Vesa Vähämöttönen
President and CEO
For further information please contact Mr. Vesa Vähämöttönen, President and CEO, tel. +358 9 4784 6312
DISTRIBUTION
Nasdaq OMX Helsinki Oy
Principal media
Efore Group
Efore Group is an international company which develops and produces demanding power products. Efore’s head office is based in Finland and its production units are located in China and in Estonia. Efore is present also in Sweden. In the fiscal year ending in October 2010, consolidated net sales totaled EUR 69,7 million and the Group’s personnel averaged 821. The company's share is quoted on the Nasdaq OMX Helsinki Ltd.
www.efore.com
Vesa Vähämöttönen, President and CEO, tel. +358 9 4784 6312