ASPOCOMP GROUP OYJ STOCK EXCHANGE RELEASE Sept 3, 2003 11:40 AM 1(2)
ASPOCOMP HAS SOLD THE TEUVA PRINTED WIRING BOARD FACTORY
Aspocomp Group’s subsidiary Aspocomp Oy has sold the fixed assets and
inventories related to the printed wiring board business of its Teuva
factory to Cibo-Print Oy. The whole personnel will be employed by
Cibo-Print. The closing date is in the beginning of September.
Aspocomp Oy will become a shareholder of the company with a 19.1 %
share. The managing director of Cibo-Print Oy is Mr. Sakari Varala.
The divestiture of the printed wiring board business of the Teuva
factory is part of the balancing process of the Aspocomp Group’s PWB
production capacity between the European and Asian factories. The
production of the factories in China and Thailand is expected to grow
remarkably during this year: the share of the Asian units of the PWB
segment’s net sales is estimated to be close to 45 % in the end of
this year. In the end of the year 2002 their share was about 35 %.
The share of the Teuva PWB factory of the Aspocomp Group’s net sales
in 2002 was about 6 % and the amount of personnel on June 30, 2003
The sale of the Teuva printed wiring board business does not affect
the estimate of the Aspocomp Group for this year. Both the net sales
and the EBIT during the latter half of the year 2003 are expected to
be higher than during the first half without the non-recurring costs.
Cash flow from operations is expected to be clearly positive.
ASPOCOMP GROUP OYJ
For more information, please contact acting CEO, Mr. Pertti Vuorinen
at +358 9 7597 0714
Press and Media
ASPOCOMP IN BRIEF
Aspocomp Group serves the electronics industry by supplying high-tech
electronic components and services like PWBs (printed wiring boards),
PWB-related design as well as mechanics and modules. Aspocomp’s
products are used in mobile handsets, telecommunications
infrastructure, automotive and other industrial applications.
Aspocomp Group’s production sites are located near the customers in
Finland, China and Thailand. The Group net sales in 2002 were about
EUR 180 million and the number of personnel was about 3000.
The Group parent company Aspocomp Group Oyj is listed on the Helsinki
Stock Exchanges since year 1999.