EXEL OYJ STOCK EXCHANGE RELEASE 31.3.2005 10.20 1(2)
EXEL TO ACQIURE FASERPROFIL GMBHS BUSINESS OPERATIONS
Exel Oyj has signed an agreement with regard to the acquisition of the
business operations of the Austria-based Faserprofil GmbH (FAS). The
company manufactures and markets glass-fibre-based special profiles
for example for the electrical and mechanical industries as well as
railway and paper machine industries in Central and Eastern Europe.
Exel will take possession of the business operations as of 1 April
2005.
The companys production units are located in Kapfenberg, Austria. FAS
employs some 25 persons.
On an annual basis the net sales of FAS are some EUR four million. The
acquisition is expected to increase Exels annual net sales with the
corresponding sum.
Exel acquires FAS business operations, stocks, machinery and
equipment and patents. The acquisition does not include real estate
property or any debts related to the companys business. Purchase
price including expenses will be a maximum of some EUR 2.0 million.
The final purchase price is partly contingent on the future net sales
of the operations in question.
The acquisition strengthens Exels technology base as FAS expertise
relative to epoxy pultrusion and production automation will be
transferred to Exel.
The acquisition further strengthens Exels position in the European
pultrusion market, in line with its strategy. FAS expertise in epoxy
pultrusion and good machinery complete Exels technical know-how and
capacity. FAS product range and clientele combined with Exels
existing products and distributor network form a comprehensive contact
surface for new customers in Central and Eastern Europe.
Mäntyharju, 31 March 2005
Exel Oyj
Ari Jokelainen
President
Further information:
Mr Ari Jokelainen, President, Exel Oyj, tel. +358 50 590 6750
Mr Vesa Korpimies, Executive Vice President, Exel Oyj,
tel. +358 50 590 6754
www.exel.net
2 (2)
Exel Oyj is a Finnish company specialised in composite technology. The
Groups operations consist of sporting goods and industrial
applications. Exels best-known products include cross-country and
alpine poles, Nordic Walking poles, surfboard masts, floorball clubs
and industrial profiles in general. The Groups six factories are
located in Finland, Germany, Belgium and Spain. Over 80% of production
is exported. In 2004 the Groups net sales totalled EUR 83.9 million.
Exel personnel numbers 450. Exels share is listed on Helsinki
Exchanges Main List.