EXEL ACQUIRED BEKAERT?S COMPOSITE PROFIL
EXEL OYJ STOCK EXCHANGE RELEASE 20.1.2004 at 17.00 1 (1)
EXEL ACQUIRED BEKAERTS COMPOSITE PROFILE BUSINESS
The acquisition by Exel of Bekaerts composite profiles has been
completed. Closing took place on 20 January 2004 and Exel has now
taken possession of the business operations. Measures aimed at
improving business operations and the integration of Bekaerts
composite profiles activities to Exels Industry division will be
commenced without delay.
The future outlook is positive, and new R&D projects relative to
the transportation industry representing a significant possibility
for increased volumes are being pushed forward during 2004.
Mäntyharju, 20 January 2004
Ari Jokelainen
President & CEO
Further information:
Mr Ari Jokelainen, President, Exel Oyj, tel. +358 50 590 6750
Mr Vesa Korpimies, Vice-President, Exel Oyj, tel. +358 50 590 6754
Exel Oyj is a Finnish company specialised in composite technology.
In 2002 the Groups net sales totalled EUR 51.2 million. It
employs 350 persons. The Groups operations consist of industrial
applications and sporting goods. Exels most well known products
include composite profiles, cross-country and Nordic Walking
poles, floorball clubs and surfboard masts. The Groups five
factories are located in Finland, Germany and Belgium. Over 70% of
production is exported. Exels share is listed on Helsinki
Exchanges main list.
Further information: www.exel.net