COMPLETION TO EXEL OYJS STOCK EXCHANGE RELEASE CONCERNING THE
ACQUISITION OF PACIFIC COMPOSITES
To complete the stock exchange release regarding the acquisition of
Pacific Composites Pty. Ltd, we announce the following: the total
assets and liabilities of the company to be acquired were EUR 14.1
million (AUD 22.6 million) at the end of the companys financial
period on 30 June 2005 and equity EUR 7.9 million (AUD 12.7 million).
The published purchase price is based on equity being EUR 8.5 million
(AUD 13.7 million) at the time of completion on 28 February 2006.
Mäntyharju, 27 February 2006
Mr Ari Jokelainen, President, Exel Oyj, tel. +358 50 590 6750
Exel Oyj is a leading, international Group specialised in composite
technology, with a special focus on pultrusion, pull-winding and
continuous lamination. The Groups operations include design,
manufacturing and marketing of advanced composite products for
industrial applications and consumer goods. Exels most well-known
consumer products include cross-country, alpine and Nordic Walking
poles, antenna radomes and other industrial applications. In 2005 the
Groups net sales totalled EUR 91 million. Exel personnel averaged
450. Exels share is listed on Helsinki Stock Exchanges Main List.
Exel Composites is the world’s leading composite technology company that engineers and manufactures composite products and solutions to an extensive range of demanding industrial applications.
The core of the business is based on the employees’ high level of expertise and own, internally developed composite technologies, which have been perfected over decades with a steady focus on innovation. With nine manufacturing plants across Europe, Asia, and North America, and a global sales network, Exel Composites is firmly driven by superior customer experience and world-class operations.
Headquartered in Finland, Exel Composites employs approximately 650 people globally. The company’s shares are listed on the Nasdaq Helsinki exchange.