Componenta sells shares in associated co

Componenta Corporation  Stock Exchange Release   26.1.2004 at 9.30 am

Componenta sells shares in associated company Thermia

Under an agreement signed on 24 January 2004, Componenta has agreed to
sell its shares in Thermia AB to Procuritas Capital Investors III, a
Swedish private equity investor. Componenta had a 36% holding in Thermia.
The shares wil be sold for some EUR 16 million and Componenta will record
a profit of EUR 7.5 million on the sale.

Thermia's other main shareholder, the Swedish Industrifonden, the other
shareholders Arbustum Invest AB, Örjan Gustafsson and a few other
investors agreed to sell their Thermia AB shares to Procuritas at the
same time. The new owner provides a firm basis for further developing
Thermia's business.

Thermia Group is one of the largest heating specialists in the Nordic
countries, with production in Arvika, Sweden and Saarijärvi, Finland. The
company's main products are geo-thermal heat pumps and central heating
boilers for producing heat and hot water for private homes and other
small properties. The company has a strong market position in the Nordic
countries. The company also supplies geo-thermal heat pumps in central
Europe, where demand for them is growing strongly. Thermia had net sales
in 2003 of SEK 460 million (EUR 50 million) and has altogether some 330
employees in Finland and Sweden. Degerfors Formnings AB, a subsidiary of
Thermia, is excluded from the transaction. Thermia's operations have
developed very encouragingly in the past few years, above all due to the
growth in sales of environmentally friendly geo-thermal heat pumps and
bio-energy boilers. The group's profit after financial items in 2003 was
SEK 37 million (EUR 4.1 million) and in 2002 SEK 20 million (EUR 2.2

Thermia Group was formed in 1998 when Högfors Lämpö Oy, which was
formerly part of Componenta Group, was merged with the Swedish company
Thermia AB.

Componenta is a metal sector company with operations that are based on
specialized business units and efficient production chains comprising
foundries and machine shops. Componenta supplies competitive, value-
adding cast component solutions to customers in various industrial
sectors, and aims to be the preferred engineering co-operation partner of
its customers in casting solutions. Selling its shares in Thermia is in
line with Componenta's strategy of divesting non-core business. The
transaction, which is expected to be completed during the first quarter
of 2004, will strengthen the Group's equity ratio and place it in a
stronger position to develop its core business.

Procuritas Capital Investors III is a private equite fund focused on mid-
sized companies in the Nordic region. The Fund's investors include, among
others, Nordea Liv, Sampo and Statoil. The fund is advised by Procuritas
Partners KB.

Erneholm & Haskel AB has been the financial advisor of Componenta in the

Helsinki, 26 January 2004


Heikki Lehtonen
President and CEO


Heikki Lehtonen 
President and CEO 
Tel. +358 9 225 021

Kimmo Virtanen
tel. +358 9 225 021