Componenta to clarify its management structure
Componenta Corporation Stock Exchange Release 3.3.2016 at 12.00
Componenta Corporation clarifies its management structure as part of ongoing strategy work. The previous division structure will be removed from the new management structure and the business will be divided into five business areas: Finland business area, Sweden business area, Netherlands business area, Turkey, Iron business area and Turkey, Aluminum business area. The business areas consist of the business units i.e. local foundries, machine shops and forges and include also sales offices.
The renewal targets to significant cost savings. Fixed costs will be reduced by several actions, out of which an organizational renewal in customer interface is the most notable. Group level sales, engineering, quality and customer service operations will become part of the business units. This change targets to develop core competences of the business units as well as to significantly improve customer service and quality. In Finland, personnel’s involvement in management will be improved by appointing an employee representative as a member of each business unit management team.
As a result of the new business structure the Corporate Executive Team of Componenta Corporation consists of the following members as of 3 March 2016: President and CEO Harri Suutari, Juha Alhonoja, Senior Vice President, Sweden business area, Seppo Erkkilä, Senior Vice President, Finland business area, Mika Hassinen, Senior Vice President, Netherlands business area, Pasi Mäkinen, Senior Vice President, Turkey, Iron business area and Sabri Özdogan, Senior Vice President, Turkey, Aluminum business area as well as CFO Markku Honkasalo, Pauliina Rannikko, Senior Vice President, Human Resources and Legal and Sami Sivuranta, Senior Vice President, Development. No deputy is nominated for President and CEO. Previously, this position has been held by Mika Hassinen.
“The renewal of the management structure is an important part of ongoing strategy work at Componenta. In the new management structure decision making authorities and responsibility will be transferred to the business units, which also will have profit and loss responsibility. I am confident, that the renewed operational model will bring significant value to our customers and creates a solid base for profitable growth,” says President and CEO Harri Suutari.
New reporting segments of Componenta
The new reporting segments of Componenta Group are aluminum business and iron business, according to which Componenta reports from 1 January 2016 onwards. Iron business includes Componenta’s iron foundries and machine shops in Finland, Sweden, the Netherlands and Turkey. In addition, the segment includes the piston manufacturer Pistons in Finland and the Wirsbo forges in Sweden. Aluminum business includes the aluminum foundry and the wheels business unit located in Turkey. Comparison data in accordance with the new business structure will be published before the January-March Interim Report 2016.
Helsinki, 3 March 2016
COMPONENTA CORPORATION
Harri Suutari
President and CEO
For further information, please contact:
Harri Suutari
President and CEO
tel. +358 400 384 937
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.