Cencorp - Company Announcement

EVALUATION PROCESS OF CONDUCTIVE BACK SHEETS CONTINUES BY CHINESE SOLAR PHOTOVOLTAIC MODULE MANUFACTURER –MASS DELIVERIES HAVE NOT STARTED

Cencorp Corporation     Stock Exchange Release  17 July 2013 at 13.30 Finnish
time 

EVALUATION PROCESS OF CONDUCTIVE BACK SHEETS CONTINUES BY CHINESE SOLAR
PHOTOVOLTAIC MODULE MANUFACTURER -MASS DELIVERIES HAVE NOT STARTED 

On 5 November 2012 Cencorp announced that the company has signed a Memorandum
of Understanding on delivering Conductive Back Sheets (“CBS”) to one of the
leading Chinese PV (“Photovoltaic”) module manufacturers. The Memorandum of
Understanding is non-binding. According to the customer's written estimate
received from the customer at the end of January 2013 CBS mass deliveries
should have commenced during the first half of 2013. Commencing of the mass
production always requires customer's internal evaluating process which still
continues and the customer has not yet started mass production. However, CBS
components have passed Cencorp´s internal technical requirements and Cencorp
starts to deliver them from its Beijing site to its photovoltaic module factory
in Mikkeli, Finland where components will be integrated into Cencorp´s own
photovoltaic modules. Photovoltaic factory in Mikkeli, Finland has started its
trial production in June 2013. 

The execution of the non-binding Memorandum of Understanding signed with a
major Chinese photovoltaic module manufacturer involves risks. The final terms
of an agreement are still under negotiations, thus execution of the agreement
is not yet guaranteed. Thus, Cencorp is not yet able to estimate the
agreement's possible execution, effective date neither the agreement's impact
in Cencorp nor the final risks relating to it. In regard to the Memorandum of
Understanding on delivering CBS to the Chinese photovoltaic module
manufacturer, the estimated minimum value of EUR 20 million for the next three
years from starting of mass production will probably stay non-binding even
though the actual Memorandum of Understanding turns into a binding supply
contract. In this business customers do not give binding order estimations. 





In Mikkeli, 17 July 2013



Cencorp Corporation

BOARD OF DIRECTORS





For more information please contact:

Cencorp: Iikka Savisalo, President and CEO, tel. +358 40 521 6082,
iikka.savisalo@savcor.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. Cencorp has selected clean
technology as its other business segment, especially photovoltaic solutions.
Cencorp manufactures and sells photovoltaic modules, based on Cencorp´s own
technology, key components of photovoltaic modules as well as their
manufacturing technology. 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 head office is located in Mikkeli, Finland. The company is part of
the Finnish Savcor Group.