Componenta sells Vesiterm's business operations

Componenta sells Vesiterm's business operations Componenta has sold the business operations of Tallinn-based Vesiterm AS in an MBO to the company's operative management. The company is being purchased by Antti Lehtonen, chairman of Vesiterm's Board of Directors, and managing director Jüri Ummer. The price is approximately EUR 110,000, and in addition to this Vesiterm retains external liabilities of EUR 230,000. Componenta is not recording a profit on the transaction. Vesiterm's operations will transfer to the new ownership on 16 June 2004. Business operations will continue unchanged and the company's personnel will retain their existing employee status. Jüri Ummer continues as managing director. Vesiterm has specialized in selling water and heating system accessories in Estonia. In 2003 it had net sales of EEK 20 million and 11 employees. Vesiterm has been part of Componenta Group since 1993. The sale of Vesiterm is in line with Componenta's strategy of focusing on core business operations and divesting non-core business. Helsinki, 16 June 2004 COMPONENTA CORPORATION Heikki Lehtonen President and CEO FURTHER INFORMATION Heikki Lehtonen President and CEO tel +358 9 225 021 Kimmo Virtanen CFO tel +358 9 225 021 Componenta is a metal sector company with international operations and production plants located in Finland, Netherlands and Sweden. The total net sales of Componenta and De Globe acquired in March 2004 exceeded EUR 259 million in 2003 and the group employed about 2,200 people. Componenta's shares are quoted on the Main List of the Helsinki Exchanges. The group's customers operate in the heavy truck, off-road, power and transmission and machine building industries. Componenta specializes in supplying ready-to-install cast, geared and machined components directly to the customer's assembly line. Componenta Corporation Nuijamiestentie 3 C FIN-00400 Helsinki , Finland Tel. +358 9 225 021 Fax +358 9 2250 2721 ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:


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