Componenta has signed Letter of Intent to divest Suomivalimo
Componenta Corporation Stock Exchange Release 22.4.2016 at 14.30
Componenta Corporation has today signed a Letter of Intent regarding a divestment of Suomivalimo, located in Iisalmi with Antti Lehtonen, Olli Karhunen and the management on behalf of new company to be established. The planned divestment includes Suomivalimo’s foundry business.
Letter of Intent is conditional and is among others dependent on financing.
The transaction is expected to be closed during the second quarter of 2016.
According to the new strategic alignments, Componenta will in future concentrate on medium volume product series in iron castings and on aluminum castings, and aims to raise capacity utilization rates at all its production plants. The primary objective is a clear improvement in profitability.
Suomivalimo casts large components especially for the Nordic machine building industry. Sizes of the components vary from 250 kg to 8 tons. The annual production capacity is 12,000 tons. The foundry employs 90 people and they will continue as existing employees of Suomivalimo.
Helsinki, 22 April 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.
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