Exel to sell Plastics operations in Germany

EXEL OYJ STOCK EXCHANGE RELEASE

Exel to sell Plastics operations in Germany

Exel has signed an agreement to sell its Plastics operations focusing on extrusion technology which has operated under Exel GmbH in Rohrdorf, Germany. The operations are sold to a new established company, CPS GmbH where the present management of the Plastics business is a co-owner. CPS will continue business operations in Rohrdorf. The business transfer takes place from the beginning of May.

The company’s net sales in 2006 were some EUR 2.9 million. 20 employees will be transferred to the new company as old employees.

By selling the Plastics operations Exel continues to concentrate on its core business operations, pultrusion and the production of composite profiles. The sale of business does not directly impact the Exel Group profit.


Further information:

Mr. Vesa Korpimies, Executive Vice President, tel. +358 50 590 6754, or email vesa.korpimies@exel.net
Mr. Ilkka Silvanto, CFO, tel. +358 50 598 9553, or email ilkka.silvanto@exel.fi



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EXEL IN BRIEF
Exel Oyj is a leading, international Group specialised in composite technology, with a special focus on pultrusion, pull-winding and continuous lamination. The Group’s operations include design, manufacturing and marketing of advanced composite products for industrial applications and consumer goods. Exel’s most well-known consumer products include cross-country, alpine and Nordic Walking poles, floorball sticks, antenna radomes and other industrial applications. In 2006 the Group’s net sales totalled EUR 112 million. Exel personnel averages 550. Exel’s share is listed in the Mid Cap segment of the OMX Exchange’s Nordic list.