Cencorp - Company Announcement

CENCORP’S PHOTOVOLTAIC MODULE FACTORY WILL BE BUILD IN MIKKELI

Cencorp Corporation       Stock Exchange Release 20 February 2013 at 17.20
Finnish time 





CENCORP'S PHOTOVOLTAIC MODULE FACTORY WILL BE BUILD IN MIKKELI 


Cencorp has decided to set up its photovoltaic module factory in Mikkeli,
Finland. In Finland the company has already operations in Salo and in Mikkeli.
The factory is expected to be ready early 2014. 



“In January Cencorp acquired Sunweb Solar Energy Holding B.V's photovoltaic
module business and related pilot production line, the Sunweb trademark as well
as the patents and other intellectual property rights relating to the business.
The transaction creates a solid base for  the final objective: to manufacture a
photovoltaic module production line, based on Cencorp's own engineering and
automation know-how, in Mikkeli. My current estimation is that the factory's
turnover will exceed EUR 50 million when operating at full capacity. Sales
negotiations on the plant's production capacity are going on with several
foreign distributers. Cencorp expects to receive its first orders for the
modules already in 2013”, says Iikka Savisalo, Cencorp's CEO. 



Cencorp's transition from a company manufacturing only production automation
applications and special components into a company, having a special edge in
laser and automation technology, that develops and provides Cleantech solutions
possessing a strong market position as a providerof locally produced,
high-quality photovoltaic modules, involves risks. Even though Cencorp's
strategy and objectives are based on market knowledge and technical surveys,
the risks are significant and it is not certain if the company reaches all or
part of the targets set for it. Cencorp's future outlook will be highly
dependent on the company's ability to reach the targetedmarket position in the
global photovoltaic module market as well as on the company's long-term
financing. 


In Mikkeli, 20 February 2013



Cencorp Corporation

Board of Directors



For more information:

Iikka Savisalo, President and CEO, tel. +358 40 521 6082,

iikka.savisalo@cencorp.com





Distribution:

NASDAQ OMX, Helsinki

Main media

www.cencorp.com



Cencorp Corporation is a leading provider of industrial automation solutions.
The equipment included in the product portfolio designed for depaneling,
odd-form assembly, testing and laser materials processing substantially
improves the efficiency of customers' production. The product range also
includes EMI shielding solutions, RFID antennas, other flexible circuits
including for example conductive back sheets used in photovoltaic modules and
mobile phone antennas. Cencorp's customers are manufacturers of automotive
electronics, mobile phone antennas and photovoltaic modules as well as
manufacturers operating in telecommunications and in industrial automation.
Cencorp's head office is located in Mikkeli, Finland. The company is part  of
the Finnish Savcor Group.