Componenta has agreed on financing with its customers in Finland and Sweden

Componenta Corporation Stock Exchange Release on 15.9.2016 at 8.00

Componenta announced on 1 September 2016 that Componenta Corporation and Componenta Finland Oy will file for restructuring in Finland, and that Componenta Främmestad AB, Componenta Wirsbo AB and Componenta Arvika AB will file for restructuring in Sweden due to the critical liquidity situation.

It has been agreed with the major customers of the above mentioned companies on a prepayment arrangement which will help these companies with working capital financing in order to continue operations and secure customer deliveries.

With suppliers the company will return to normal payment terms, when possible.

The filings of the Swedish subsidiaries have been approved and the restructuring proceedings have started on 1 September 2016 (Componenta Främmestad AB and Componenta Wirsbo AB) and 2 September 2016 (Componenta Arvika AB). In Finland, the filings of Componenta Corporation and Componenta Finland Ltd are still in progress in the local court.

Helsinki, 15 September 2016

COMPONENTA CORPORATION

Harri Suutari

President and CEO

For further information, please contact:

Harri Suutari
President and CEO
tel. +358 10 403 2200 

Markku Honkasalo
CFO
tel. +358 10 403 2710

Componenta is a metal sector company with international operations and production plants located in Finland, Turkey, the Netherlands and Sweden. The net sales of Componenta were EUR 495 million in 2015 and its share is listed on Nasdaq Helsinki. The Group employs approx. 4,250 people. Componenta specializes in supplying cast and machined components and total solutions made of them to its global customers, who are manufacturers of vehicles, machines and equipment.