Extension for the restructuring proceeding of Componenta Främmestad AB

Componenta Corporation Stock Exchange Release on 6.3.2017 at 15.40

On 3 March 2017 Skaraborg district court has granted extension for restructuring proceeding of Componenta Corporation’s subsidiary Componenta Främmestad AB until 1 June 2017. Reaching an agreement relating to the internal debt between Componenta Främmestad AB and Componenta Dökümcülük Ticaret ve Sanayi A.S., which is still pending, is seen as a prerequisite for a viable composition proposal. Componenta’s Turkish subsidiary is the most significant creditor and casting supplier for Componenta Främmestad AB.

Componenta Främmestad AB has restructuring debt of approximately 182 MSEK in total of which the restructuring debt to the Turkish company is approximately 102 MSEK.
 

Helsinki, 6 March 2017
 

COMPONENTA CORPORATION
 

Harri Suutari
President and CEO

For further information, please contact:

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

Marko Karppinen
CFO
tel. +358 10 403 2101

Componenta is a metal sector company with international operations and production plants located in Finland, Turkey 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. 3,500 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.