Mika Sulin resigns from Exel Sports Oy, Aki Karihtala appointed new Managing Director



Significant reorganizations were implemented at Exel Oyj’s subsidiary Exel Sports Oy in 2006 with the aim of improving profitability considerably. The transfer of surface treatment, assembly and packaging of pole and floorball products to China is nearly completed. In addition, the warehousing and delivery operations have been outsourced to a service provider. The outsourcing aims at decreasing the cost level to the present market situation.

Mr. Aki Karihtala, 45, Senior Vice President of Exel’s Sport Division, has been appointed Exel Sports Oy’s Managing Director as of 1 March 2007. Karihtala has worked for Exel for 20 years. Aki Karihtala succeeds Mr. Mika Sulin.

”We have now implemented major structural changes and the adjustment of the operations to the market situation. I am confident that the new organization will continue to take all the necessary measures to continue to improve the profitability of Exel Sports”, Mika Sulin says.

”I wish to thank Mika Sulin for his excellent efforts as Exel Sports’ Managing Director. Last year was extremely challenging. Exel’s Sport Division has changed in a very short time from a traditional production company to a sales and marketing company. We have adjusted our operations to match the markets. We believe that the measures that have already been taken and with our strong sport and fitness product folio we will be able to develop into a strong international and competitive sales and marketing organization”, Aki Karihtala says.

Vantaa, 10 January 2007


Göran Jönsson
President & CEO

Further information:
Mr. Göran Jönsson, President & CEO, Exel Oyj, tel. +46 708 43 0110
Mr. Mika Sulin, Managing Director, Exel Sports Oy, tel. +358 40 527 8101
Mr. Aki Karihtala, Senior Vice President, Exel Oyj Sport Division, tel. +358 50 590 6752

Exel Oyj is a leading, international Group specialised in composite technology, with a special focus on pultrusion, pull-winding and continuous lamination. The Group’s operations include design, manufacturing and marketing of advanced composite products for industrial applications and consumer goods. Exel’s most well-known consumer products include cross-country, alpine and Nordic Walking poles, floorball sticks, antenna radomes and other industrial applications. In 2005 the Group’s net sales totalled EUR 91 million. Exel personnel averages 600. Exel’s share is listed in the Mid Cap segment of the OMX Exchange’s Nordic list.

About Us

Exel Oyj on komposiittisia urheiluvälineitä ja teollisuusprofiileja suunnitteleva, valmistava ja markkinoiva teknologiayritys. Exelin liiketoiminta muodostuu Sport- ja Teollisuus-liiketoiminnoista. Henkilöstön osaaminen ja korkea teknologian taso ovat avainasemassa Exel Oyj:n toiminnassa. Liiketoiminnan ytimen muodostaa itse kehitetty komposiittiteknologia, siihen perustuva tuotteisto ja valittujen markkinasegmenttien hallinta vahvalla laatu- ja tuotemerkki-imagolla. Jatkuva uusien sovelluskohteiden etsiminen ja kehitys yhteistyössä asiakkaiden kanssa mahdollistavat yrityksen kasvun. Exel panostaa valituille kapeille sektoreille sekä kannattavaan kasvuun. Exel Oyj is a technology company which designs, manufactures and markets composite sports equipment and industrial applications. Exel's operations comprise two divisions: Sport and Industry. The personnel's expertise and high level of technology play a major role in Exel's operations. The core of the operations is based on own, internally developed composite technology, product range based on it and the domination of selected market segments with a strong quality and brand image. The company's growth is based on permanent search of new applications and development in co-operation with customers. Exel concentrates on niche segments and on profitable growth.