ASPOCOMP SAS IN FRANCE HAS FILED A PETITION FOR BANKRUPTCY

ASPOCOMP GROUP Oyj STOCK EXCHANGE RELEASE March 6, 2002 at 1:45 p.m.

ASPOCOMP SAS IN FRANCE HAS FILED A PETITION FOR BANKRUPTCY
Difficult market situation in the PWB (Printed Wiring Board) industry

has lead to very low loading in Aspocomp SAS in Evreux, France. Net

sales of Aspocomp SAS in 2001 were 41.4 million euros (71.0 million

euros in 2000) and its EBIT level loss was 23.9 million euros.

Radical improvement of the market situation can not be seen and the

forecasted loading for 2002 is also low.
The HDI capacity in the plant was built for the forecasted ramp-up of

the 3G infrastructure and estimated growth of the handset demand.

However, these markets did not develop as generally expected in 2001.

Based on the telecom industry estimates the weak market conditions

will continue also during the year 2002 and the forecasted growth

rates after 2002 are not on the level of 1999-2000 estimates.
In January 2002 it was decided to give a notice to approximately 200

persons in the French company. The personnel reductions were started

immediately and the number of personnel after the reductions will be

about 350. Even after this downsizing the plant will generate losses

in the foreseeable future. Aspocomp Group Oyj as the parent company

doesn’t see feasible possibilities to continue its financial support

to Aspocomp SAS and the filing of petition for bankruptcy was the

only business-wise reasonable option left.
The Group sales may decrease by about 15% as a consequence of the

possible closing of Aspocomp SAS and one-time write off’s from the

balance sheet may be 20-30 million euros. Forecasted cash flow

savings on the Group level in 2002 may be about 15-20 million euros

and the equity ratio without French subsidiary is estimated to be

close to the current good level of about 55 %.
For more information contact the President and CEO, Mr Jarmo Niemi by

telephone at +358 9 759 70711
ASPOCOMP GROUP Oyj
Jarmo Niemi

President and CEO
Distribution:

Helsinki Exchanges

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