Componenta continues the adaptation actions

Componenta Corporation Stock Exchange Release 15.12.2008

Componenta continues the adaptation actions

The market situation in most of Componenta's customer business areas has
further weakened due to recent turbulence in the international financial
markets. As a result of this, Componenta continues to adapt its operations by
reducing production temporarily to correspond with the lower demand outlook. 

Componenta will decrease the amount of leased employees in the Netherlands and
Turkey and markedly increase the number of lay-offs and redundancies in
Finland, Sweden and Turkey from already earlier announced amounts. In total,
the impact of the reduction of leased employees as well as lay-offs and
redundancies of own employees will reach 1 600 persons. In addition, the use of
external subcontracting will be reduced by an amount equivalent to the work of
altogether 200 people. At the end of September 2008, Componenta's personnel,
including leased employees, stood at 5 300 employees. 

Componenta started adaptation actions in the beginning of October 2008,
immediately after having experienced the first signs of decreased demand
outlook. Leased personnel were decreased by 580 employees during October -
November. In addition, it was announced that the amount of own employees will
be decreased by 170 persons through lay-offs and redundancies mainly during
Q4/2008. Further more, it was decided that the use of external subcontractors
will be reduced by an amount of equivalent to the work of altogether 150
people. 

As a result of further weakened market situation Componenta continues to adapt
its operations and personnel. Componenta's business units are closed down 2-3
weeks mainly in December. The amount of leased employees will be reduced as
earlier announced by altogether 700 people in the Netherlands and Turkey.  The
amount of lay-offs and redundancies in Finland, Sweden and Turkey will increase
from earlier announced 170 persons to 900 persons. 

In spite of the adaptation actions, Componenta is capable to ensure stable
deliveries to its customers to guarantee their production without any
disturbances. 

The investments in the new aluminium component factory in Manisa and the
melting furnace in Orhangazi have been halted for the time being. Componenta's
investments are expected to decrease from EUR 40 million in 2008 to EUR 10
million in 2009. 

Due to the weakened demand outlook, customers' increased inventory levels and
their own adaptation actions, Componenta's net sales of the last quarter of
2008 is expected to decrease clearly compared with the same period a year
before. As a result of decreased deliveries and significant price decrease of
raw materials, as well as the costs related to personnel's adaptation actions,
Componenta's result after financial items excluding one-time items is expected
to be clearly negative in the last quarter of 2008. 

After all, Componenta Group's comparable 2008 net sales and result after
financial items excluding one-time items are still expected to show a
considerable improvement on the corresponding figures of 2007, as stated
already earlier this year. 

Due to the financial crisis the credit risks of the customers are supposed to
increase. Because of the increased risks Componenta has boosted the collection
of customer receivables and shortened payment terms to some of its customers as
from the beginning of next year. The reduced business volumes together with the
strongly decreased raw material prices will strongly decrease the funds tied up
in working capital during the last quarter of the current year and in the first
half of the year 2009. Componenta's unused, long-term credit facilities at the
end of November of 2008 were EUR 71 million. 

Helsinki, 15 December 2008 

COMPONENTA CORPORATION

Heikki Lehtonen
President and CEO




Further information:

Heikki Lehtonen
President and CEO
tel. +358 10 403 00

Componenta is a metal sector company with international operations and
production plants located in Finland, Turkey, the Netherlands and Sweden. The
net sales of Componenta were EUR 635 million in 2007. The Group employs about
5,100 people. Componenta's shares are quoted on the OMX Nordic Exchange in
Helsinki. Componenta specializes in supplying cast and machined components and
total solutions made of them to its global customers who are manufacturers of
vehicles, machines and equipment. 
 
Componenta  Corporation 
Panuntie 4 
FI-00610 Helsinki , Finland
Tel. +358 10 403 00
Fax +358 10 403 2721
www.componenta.com