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2007-10-30 07:01:55 CET 2007-10-30 07:01:55 CET REGULATED INFORMATION Neomarkka - Company AnnouncementNEOMARKKA IS INVESTING IN COMMUNICTION-CABLE PRODUCTION IN FINLANDNeomarkka Plc STOCK EXCHANGE RELEASE October 30, 2007 NEOMARKKA IS INVESTING IN COMMUNICTION-CABLE PRODUCTION IN FINLAND Neomarkka Plc is investing in communication-cable production in Finland through its subsidiary. Neomarkka Group (“Neomarkka”) is purchasing shares in Nestor Cables Oy, a cable-producing company established in Oulu. Besides Neomarkka, Vaasa Industrial Invest Oy and the company's management will also have a share in Nestor Cables. Neomarkka will own 30% of Nestor Cables Oy. Nestor Cable Oy's plant will be situated in Oulu and its sales office in Espoo. Nestor Cables will provide customers with a Finnish alternative, utilizing the strong communication-cable expertise that has developed in the Oulu area. In addition to Finnish operations, the new company will be exporting to the Baltic region and Sweden. The new plant will exploit the leading technology in the sector, producing fibre and copper-cable products for the construction of telecommunications networks and instrumentation cables for industrial automation. Profitability of the operations will be ensured by concentrating on the needs of Finnish customers and constructing from the outset a modern, efficient production plant, flexible organization and a service/production process according to customers' needs. Customers have shown exceptionally strong interest in this project. “We see this investment as an opportunity to continue an industrial sector that has long-standing traditions in Finland. We believe in Finnish know-how and we are willing to invest heavily also in Finland, as our actions show. This project fits in well with our target of profitable growth,” says Neomarkka's Managing Director Markku E. Rentto. Installation of the machinery starts immediately and production will begin in spring 2008. Neomarkka Plc Sari Tulander CFO FURTHER INFORMATION: Managing Director Markku E. Rentto tel. +358 207 209 191 DISTRIBUTION OMX Nordic Exchange, Helsinki Main media www.neomarkka.fi |
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