Componenta sells Traryd metal foundry
Componenta sells Traryd metal foundry Componenta has sold the business operations of Componenta Traryd AB in an MBO to its operative management consisting of Chairman of the Board Antti Lehtonen, Managing Director Bo Rosengren and Finance Manager Gunnar Blomberg. The operations of Traryd will pass into the hands of its new owners on 30 September 2002. Business operations will continue as before and the personnel will retain their existing employee status. Mr Rosengren continues as managing director. The Traryd foundry has specialized in aluminium and copper castings. The foundry's products include pressure tight highly qualified components for in the HEPAC and shipbuilding industries, such as valve housings. Traryd had net sales in 2001 of SEK 24 million and 15 employees. The foundry, which is located in Strömnäsbruk in Sweden, has been part of the Componenta Group since October 1997. The transaction is in line with Componenta's strategy of focusing on its core business. The selling price was EUR 4 million. Componenta will continue to participate in Traryd's business as a financier. Mr Lehtonen has announced that due to this transaction he is resigning from the Board of Directors of Componenta Corporation. Helsinki, 26 September 2002 COMPONENTA CORPORATION Heikki Lehtonen President and CEO FURTHER INFORMATION: Heikki Lehtonen President and CEO tel. +358 (0) 9 225 021 Sirpa Koskinen CFO tel. +358 (0) 9 225 021 [REMOVED GRAPHICS] Componenta is a metal sector company with international operations and production plants located in Finland and Sweden. The company's net sales exceed EUR 194 million and the group employs about 1,750 people. Componenta's shares are quoted on the Main List of the Helsinki Exchanges. The group's customers operate in the heavy truck, power and transmission, machine building 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/2002/09/26/20020926BIT00460/wkr0001.doc http://www.waymaker.net/bitonline/2002/09/26/20020926BIT00460/wkr0002.pdf