Divestment of Pistons completed

Componenta Corporation Stock Exchange Release on 17.8.2016 at 14.10

Componenta Corporation announced on 29 July 2016 that is has signed an agreement relating to the sale of the Pistons unit with Koncentra Pistons Oy. The closing of the transaction was conditional.

The transaction of Pistons has been completed on 17 August 2016.

Componenta Pistons offers piston solutions to leading medium speed diesel engine manufacturers, applying state-of-the-art R&D methods and modern production technology. Pistons is located in Pietarsaari, Finland and employs some 40 people. Pistons net sales in 2015 was EUR 6 million. The divestment will not have a material impact on Componenta Group’s result or financial position.
 

Helsinki, 17 August 2016

COMPONENTA CORPORATION
 

Harri Suutari

President and CEO

For further information, please contact:

Harri Suutari
President and CEO
tel. +358 400 384 937 

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.