Componenta to sell the business operations of the Nisamo machine shop

Today, Componenta Finland Ltd, a subsidiary of Componenta Corporation, signed an agreement on selling the business operations and production machinery of the Nisamo machine shop, located in Lempäälä, Finland. The buyer is a subsidiary of Tampereen Konepajat Oy and will continue machining operations at the current Nisamo premises as a machining subcontractor for Componenta. The impact of the sale of the Nisamo machine shop operations on Componenta’s result for 2011 is EUR -2.0 million instead of estimated costs of EUR -2.8  million due to terminating of operations.

The agreement will end the statutory negotiations that began at Componenta Finland Nisamo on 18 October 2011 concerning possible closure of the business unit. The machine shop personnel will continue with the company under the new ownership, with unchanged terms and conditions of employment.

The sale of the Nisamo machine shop will have no impact on Componenta’s customer deliveries, which will continue as before, with the new owner of the machine shop operating as a machining subcontractor for Componenta.

Componenta is a significant provider of cast components and solutions made thereof. Our operations encompass the entire supply chain of components, from engineering to casting, machining and logistics services. As before, most of the components cast by the Group will be machined in the Group’s machine shops located in Sweden and Turkey. In addition, machining will be subcontracted, if necessary. 

The sold business operations will be transferred to the new owner on 31 December 2011.

Helsinki, 15 December 2011

COMPONENTA CORPORATION

Heikki Lehtonen
President and CEO

Further information:

Heikki Lehtonen
President and CEO
tel. +358 10 403 00

Yrjö Julin
COO
tel. +358 10 403 00

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 452 million in 2010 and its share is listed on the NASDAQ OMX Helsinki. The Group employs approx. 4,400 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.