Exel's Shenzhen operations granted a business license

Exel’s Shenzhen operations granted a business license His Excellency, Mr. Matti Vanhanen, Prime Minister of the Republic of Finland, took part in the opening ceremony of Exel’s Shenzhen operations today in Guangzhou in Southern China. In the occasion Shenzhen Foreign Investment Bureau’s Director awarded Exel a business license required to run a business in China. ”We regard the Far Eastern market as most interesting”, Mr. Ari Jokelainen, President & CEO of Exel, said. “Exel is committed to being a global supplier to its main customers. Establishing operations in China is a strong indication of our efforts to serve our customers ever better both in the Western countries and in the Far East.” By establishing a factory in China Exel aims at strengthening its market share in this new market area and its competitiveness worldwide. The Shenzhen factory will produce high tech products for example to the telecommunication sector with pultrusion technology. At the beginning the main product range will consist of different kinds of industrial profiles. Further processing of the Sport division’s products will also take place in China. The new unit will also coordinate and assist locally Exel’s sourcing operations. Further information: Mr. Ari Jokelainen, President & CEO, 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. The Group’s operations consist of sporting goods and industrial applications. Exel’s best-known products include cross-country and Alpine poles, Nordic Walking poles, surfboard masts, floorball clubs and industrial profiles in general. The Industry division accounts for over 60% of the Group’s net sales. The division produces over 1,000 different client applications. The Group’s seven factories are located in Finland, Germany, Belgium, Austria and Spain. Over 80% of production is exported. In 2004 the Group’s net sales totalled EUR 87 million. Exel personnel numbers 450. Exel’s share is listed on Helsinki Exchanges main list. Further information: www.exel.net.