Exel Plc changes its name to Exel Composites Plc
EXEL PLC STOCK EXCHANGE RELEASE 16.4.2009 at 14.05 1 (1)
EXEL PLC CHANGES ITS NAME TO EXEL COMPOSITES PLC Exel's Annual General Meeting held on 16 April 2009 resolved to change the Company's name to Exel Composites Plc in English and Exel Composites Oyj in Finnish. The choice of name Exel Composites reflects the Company's evolution from an industrial division within Exel, through expansion and several acquisitions, to a purely business-to-business company which is no longer involved in the sports consumer business. Exel Composites' new core business is the development, manufacture and marketing of demanding, customer-tailored composite profile products for industrial applications in selected market segments. Currently Exel delivers products for the following industries and market segments: transportation, building/construction and infrastructure, energy industry, telecommunication, paper industry, electrical industry, cleaning and maintenance, sport and leisure industry, machine engineering, and general industries. There are already over 1,000 glass and carbon fiber profile applications, all of which are the result of customer-focused product development. Work on replacing other materials, such as aluminum, steel and wood, with composite materials is ongoing and new applications are regularly being found. The change of name supports Exel's strategic goal to continue to be the world's first international pultrusion company. Exel has production plants in Austria, Australia, Belgium, China, Finland, Germany and the UK. The new name will be taken into use as soon as the National Board of Patents and Registration of Finland has approved it. Exel will remain the Company's secondary company name. Vantaa, 16 April 2009 EXEL PLC Vesa Korpimies President and CEO Further information: Vesa Korpimies, President and CEO, Exel Plc, tel. +358 50 590 6754 Ilkka Silvanto, CFO, Exel Plc, tel. +358 50 598 9553 DISTRIBUTION NASDAQ OMX Helsinki Ltd. Main news media www.exelcomposites.com EXEL IN BRIEF 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. Exel Plc share is listed in the Small Cap segment of NASDAQ OMX Helsinki Ltd.