Co-determination negotiations concluded in the Joensuu unit of the Exel Composites Group

EXEL COMPOSITES PLC                           STOCK EXCHANGE RELEASE 23.11.2012 at 8.30             1 (1)


Co-determination negotiations concerning the Joensuu unit of the Exel Composites Group have been concluded. 

The negotiations were based on the employer’s negotiation proposal. The negotiations concerned the non-salaried employees of the Joensuu unit. It was estimated that a maximum of 9 employment contracts be terminated.

No employment contracts will be terminated as a result of the negotiations. The necessary cost savings will be achieved by laying off the personnel group in question for a maximum of 90 days.

The development of the market situation is monitored at all times in the Group, and if necessary, measures will be taken rapidly.


Vantaa, 23 November 2012


Vesa Korpimies
President and CEO


Further information:
Mr. Vesa Korpimies, President and CEO, Exel Composites Plc, tel. +358 50 590 6754, or email
Mr. Ilkka Silvanto, CFO, Exel Composites Plc, tel. +358 50 598 9553, or email

NASDAQ OMX Helsinki Ltd.
Main news media


Exel Composites ( is a technology company which designs, manufactures and markets composite profiles and tubes for industrial applications. The Group is the leading composite profile manufacturer in the world and concentrates on growing niche segments.

The core of the operations is based on own, internally developed composite technology, product range based on it and a strong market position in selected segments with a strong quality and brand image. Profitable growth is pursued by a relentless search for new applications and development in co-operation with customers. The personnel’s expertise and high level of technology play a major role in Exel Composites’ operations.

The Exel Composites Plc share is listed in the Small Cap segment of NASDAQ OMX Helsinki Ltd.

About Us

Exel Composites, a global technology company headquartered in Finland, is the world’s largest manufacturer of pultruded and pull-wound composite solutions. Our global manufacturing, R&D, and sales footprint serves customers across a broad range of industries and applications. With 60 years of composites experience and engineering expertise, we work closely with our customers to design and manufacture high quality composite solutions using carbon fiber, fiberglass, and other high-performance materials. Our composites help reduce weight, improve performance, and decrease total life cycle costs, all while helping increase energy efficiencies and supporting environmental sustainability. Exel Composites employs approximately 650 innovative and customer-focused employees around the world and is listed on the Nasdaq Helsinki exchange. To find out more about our offering and company please visit