ASPOCOMP GROUP OYJ STOCK EXCHANGE RELEASE Feb 16, 2005 at 8:00 AM 1(2)
ASPOCOMP EXPANDS ITS BUSINESS OPERATIONS IN CHINA
Aspocomp’s subsidiary, ACP Electronics (ACPE) in Suzhou China, has made a
decision to expand its business operations by building a new PCB plant. The
production unit is the Suzhou plant’s third and its production is estimated to
start in summer of 2006 and reach full capacity utilization by the end of year
2006. The unit is estimated to employ approximately 500 personnel. The already
existing infrastructure of the Suzhou plant will be used to our advantage when
building the new unit, which will make the project cost-efficient.
The estimated cost of the investment is approximately EUR 40 million. It has
been planned that the project will be funded by ACPE’s liquid funds, the
company’s cash flow, local sources of financing and owner financing. The other
main owner of ACPE is the listed Taiwanese PCB company, Chin-Poon
(www.cppcb.com.tw). It is estimated that final investment decisions will be made
by the end of the year 2005.
The production unit will be realized using technology and process solutions that
enable flexible production and deliveries according to the needs of chosen
customer segments. The investment is part of the global growth strategy,
according to which Aspocomp is concentrating on solidifying its position in PCBs
supplied to hand held devices, telecommunications and automotive industry
In autumn 2004, Aspocomp released a growth strategy according to which the
company will, in the medium term, grow at a pace clearly faster than that of the
market in its core businesses: the PCB and module industries. The company’s goal
is to use growth and development projects to improve its profitability and
return on equity (ROE) while maintaining a sufficiently solid financial
“The decision to expand ACPE has been made together with our Taiwanese partner
and it is a logical step in the implementation of our strategy. This project is
important to us as it significantly reinforces our ability to service our global
customers. High-tech products, production flexibility, a good delivery capacity,
and a competitive level of costs are combined in this project,” says Aspocomp’s
CEO Maija-Liisa Friman.
PCB production was launched at the Suzhou plant in 2000. Aspocomp became ACPE’s
majority owner in January 2001. Over the last few years, the company’s business
operations have seen a rapid growth. In 2003, the second unit producing high-
tech HDI PCBs was inaugurated; this unit was then expanded in the summer of
2004. ACPE’s net sales for 2004 were just over EUR 40 million and the result
positive. The company employs approximately 1,100 personnel.
For further information, please contact CEO Maija-Liisa Friman,
tel. +358 9 7597 0711.
ASPOCOMP GROUP OYJ
President and CEO
Aspocomp: Innovative interconnection solutions for the electronics industry
The Aspocomp Group offers and develops innovative interconnection solutions for
the electronics industry in close cooperation with its customers. We hold a
strong and recognised position as a supplier of mobile data terminal equipment
components and we aim to further strengthen our position as a supplier to the
automotive industry and data communications networks. We offer our global
customers a fast road to mass production through flexible and cost-effective
adaptation of new technologies, to which our balanced production structure in
Europe and Asia is well adapted.
We strive to offer solutions to our customers that enable increased flexibility
in their own product development. Our belief is that this advantage will bear
increasing significance for our customers as end product lifecycles continue to
The Aspocomp Group’s production facilities are located close to its customers in
Finland, China and Thailand. In 2004 Group turnover stood at around 200 million
euros with a staff of some 3,500.
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