Componenta acquires the remaining shares of De Globe
Componenta Corporation Stock Exchange Release 30.6.2005 at 14.00
Componenta acquires the remaining shares of De Globe As per an agreement signed on 30 June 2005, Componenta Corporation has acquired the remaining 45% of the shares and voting rights of the Dutch foundry company De Globe. The seller of the shares was a Dutch capital fund, Industriebank LIOF, and the sale price was EUR 2.3 million. The seller reserves the right to receive a further sales revenue of EUR 0.3 million on the basis of the financial performance of De Globe for 2005. After the acquisition, Componenta owns 100% of De Globe shares. Componenta acquired 55% of the shares in March 2004, when an option for acquiring the remaining shares by 2007 was agreed. Componenta will be recognising the negative goodwill resulting from the acquisition as income during the second quarter. The decision to acquire the De Globe shares came about after the most significant structural changes in the company had been implemented and due to the positive financial development in 2005. A project aiming at improving productivity was launched in De Globe in spring 2004, in connection with which the Belfeld foundry was closed down and its production capacity transferred into the Heerlen foundry. This spring, the De Globe foundries adopted a new business unit organization and Marc Omes will take over as the Managing Director of De Globe as of October 2005. Componenta and De Globe complement each other well both operationally and in terms of geographical distribution of sales, and together they form a major European supplier of casting solutions. The extensive sales organization and the strong expertise in casting and machining allow the Group to offer its clients a wide selection of products and services. Helsinki, 30 June 2005 COMPONENTA CORPORATION Heikki Lehtonen President and CEO Further information: Heikki Lehtonen President and CEO tel. +358 10 403 00 Kimmo Virtanen CFO tel +358 10 403 00