Elcoteq sells facility in Lohja

The transaction price is 6.3 million euros. The transaction will be carried out as a sale of real estate, with ownership being transferred to Sponda by October 31, 2007, at the latest. Elcoteq's prior deal with the city of Lohja was canceled when a municipal appeal was filed against the Lohja City Council's purchase decision. For this reason, Elcoteq began to immediately seek an alternative solution for the sale of the real estate. Early in the year, Elcoteq decided to close its Lohja plant and transfer production to its other locations as part of the company's global action plan. Production at the plant was ended at the end of June. The plant has floor space of about 8,500 square meters and the land plot measures approximately 28,000 square meters.