ASPOCOMP HAS ENTERED INTO AN AGREEMENT TO ACQUIRE ITS CHINESE JOINT VENTURE
ASPOCOMP GROUP OYJ COMPANY ANNOUNCEMENT March 16, 2007 at 6:00 PM
Aspocomp Group Oyj has today entered into an agreement with the Group’s Taiwanese partner Chin-Poon Holdings to acquire its 49 percent minority interest in ACP Electronics Ltd, the Suzhou, China based joint venture of the two companies. The net purchase price is EUR 37.8 million and the acquisition is expected to be finalized in March.
The company published the related Board decision on March 15, 2007.
Since Aspocomp Group Oyj owns 51 percent of ACP Electronics, the net sales and result of the subsidiary have been consolidated into Aspocomp’s figures starting 2001. The profit for the 2006 financial year attributable to minority interests, presented in the income statement of the Aspocomp Group, originates almost entirely from ACP Electronics. Resulting from the acquisition, the minority interest of the Chinese subsidiary will be eliminated from the Group’s income statements and interests paid on the loan taken to finance the acquisition will enter into the Group’s income statements. Consequently, the net impact of the acquisition on the Group’s result will be positive.
For further information, please contact Maija-Liisa Friman, CEO,
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 are strongly positioned as a supplier of mobile data terminal equipment components and aim to further bolster 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.
The Aspocomp Group’s production facilities are located close to its customers in Finland, China, and Thailand. In 2006, the Group’s net sales stood at EUR 149 million and it had about 3,350 employees.
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