Componenta - Company Announcement

Componenta files for restructuring

Componenta Corporation Stock Exchange Release on 1.9.2016 at 8.00

The liquidity of the Componenta Group has become critical due to greater than
expected negative development of the turnover and profitability. The company
has not been able to negotiate additional financing necessary due to this
situation. Consequently, Componenta files for restructuring of the parent
company i.e. Componenta Corporation and its subsidiaries Componenta Finland Oy
in Finland and Componenta Främmestad AB, Componenta Wirsbo AB and Componenta
Arvika AB in Sweden. As part of the arrangement it has been decided that
Componenta’s Dutch subsidiary Componenta B.V. will file for bankruptcy. The
intention is that Componenta Dökümcülük Ticaret ve Sanayi A.S. in Turkey will
continue its operations without any official proceedings. 

”Componenta Corporation has viable operations in Finland, Sweden and Turkey.
Restructuring will make it possible for the parent company and its Finnish and
Swedish subsidiaries to restore their capital structure and business operations
and enables continuing profitable business. It is our intention to continue
normal operations in Turkey,” says CEO and President Harri Suutari. 

Componenta Corporation and its above mentioned subsidiaries in Finland and
Sweden will file for restructuring with courts of competent jurisdictions
1.9.2016. The Dutch subsidiary will file for bankruptcy in a competent
jurisdiction 1.9.2016. The filings will be processed according to the
legislation of each respective country and their progress will be reported
separately. The board of directors of Componenta Corporation has also decided
to call an extraordinary shareholders’ meeting on 23 September 2016 to resolve
upon the continuance of the restructuring filing pursuant to Chapter 20 Section
24 of the Companies Act. 



Helsinki, 1 September 2016

COMPONENTA CORPORATION



Harri Suutari

President and CEO



For further information, please contact:

Harri Suutari
President and CEO
tel. +358 10 403 2200

Markku Honkasalo
CFO
tel. +358 10 403 2710



Componenta is a metal sector company with international operations and
production plants located in Finland, Turkey, the Netherlands and Sweden. The
net sales of Componenta were EUR 495 million in 2015 and its share is listed on
Nasdaq Helsinki. The Group employs approx. 4,250 people. Componenta specializes
in supplying cast and machined components and total solutions made of them to
its global customers, who are manufacturers of vehicles, machines and
equipment.