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PCB | September 16, 2005

Aspocomp sells business to Mecanova

Aspocomp Oy has today signed an agreement to sell its Mechanics business to the Nivala-based company Mecanova Oy. The transaction comprises the sale of the business operations, inventory, and fixed assets of Aspocomp's Klaukkala plant. Aspocomp and Mecanova have also signed a long-term lease agreement on the Klaukkala plant property, which is owned by Aspocomp.
All the employees of the Mechanics business (about 70 persons) will transfer into the new owner's employ under their current terms of employment.

In 2004, the Klaukkala plant had net sales of EUR 12.6 million and an operating
profit of EUR 0.1 million.

"In line with the strategy outlined in the autumn of 2004, Aspocomp will focus on its core businesses - printed circuit boards and modules - and seek to outpace market growth in these areas. The sale of the Mechanics business is part of the implementation of our strategy," says Maija-Liisa Friman, President and CEO of Aspocomp.

"The transaction serves to implement Mecanova's growth strategy, which aims to develop increasingly broader-based services for our customers. The Klaukkala plant bolsters and diversifies our expertise in mechanical design and fabrication alike," says Keijo Anttila, President, CEO, Mecanova.

Mecanova is a contract manufacturer specializing in mechanical components for the electronics industry. Its service portfolio covers the entire life cycle of its customers' products, from product development, design, and manufacture to after-sales marketing services. The company's service range also includes equipment assembly and testing.

Mecanova's customers are leading equipment manufacturers whose products are used in telecom infrastructure, industry, and healthcare. The Group's post-deal net sales will amount to over EUR 55 million. Contrary to the general trend in its sector, the company has grown significantly over the past three years. Mecanova is headquartered in Nivala. After the transaction, it will have about 370 employees in three localities.

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