Componenta starts negotiations of shutting down Componenta Osby in Sweden

Componenta starts negotiations of shutting down Componenta Osby in Sweden The Board of Directors of Componenta Corporation has made a decision on October 11th 2001 to start employment negotiations with labor representatives of shutting down one of its Swedish units, Componenta Osby AB. Componenta Osby AB is a machine shop with annual turnover of 11 MEUR (100 MSEK) and personnel of 90. The Osby plant has shown remarkable losses during the last couple of years. With this decision Componenta is seeking for possibilities to adapt its cost structure in a situation where most of its customer segments are showing a decline due to the slowdown of the world economy. The target is to carry out the process by summer 2002. A possible shutting down of Componenta Osby AB will have no effect on the profit forecast of the Group for year 2001. As from October 11, 2001 Componenta Osby is part of Supply Chain 1. COMPONENTA CORPORATION Heikki Lehtonen President and CEO For further information please contact: Yrjö Julin Executive Vice President and COO tel. +358 9 225 021 or +358 500 486 919 Bengt Christensson Vice President, Supply Chain 1 tel. +46 550 410 590 or + 46 70 58 150 15 Componenta is a metal sector company with international operations and production plants located in Finland and Sweden. The company's net sales exceed EUR 200 million and the group employs about 1,900 people. Componenta's shares are quoted on the Main List of the Helsinki Exchanges. The group's customers operate in the heavy truck, general engineering and off-road industries. Componenta specializes in supplying ready-to-install cast, geared and machined components directly to the customer's assembly line. Componenta Corporation World Trade Center Helsinki, Aleksanterinkatu 17 P.O. Box 1132, FIN-00101 Helsinki, Finland Tel. +358 9 225 021 Fax +358 9 2250 2721 http://www.componenta.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/11/20011011BIT00480/bit0004.doc http://www.waymaker.net/bitonline/2001/10/11/20011011BIT00480/bit0004.pdf