Exel Composites Oyj - Company Announcement

Co-determination negotiations to be started in the Finnish units of the Exel Composites Group

EXEL COMPOSITES PLC                           STOCK EXCHANGE RELEASE 3.5.2013
at 8.55 

CO-DETERMINATION NEGOTIATIONS TO BE STARTED IN THE FINNISH UNITS OF THE EXEL
COMPOSITES GROUP 

Co-determination negotiations will be started on 13 May 2013 in the Finnish
units of the Exel Composites Group. The negotiations concern all the salaried
and non-salaried employees working in the Finnish units. 

”We will improve and adjust our operations to better correspond with the
present sales volumes and market situation. We expect to achieve necessary
savings by improving operational efficiency and restructuring tasks and the
organization”, Mr. Vesa Korpimies, Exel Composites Plc's President and CEO,
says. 

At present the Finnish units of the Exel Composites Group employ 190 persons of
whom 130 work at the Joensuu factory and 60 at the Mäntyharju factory. In
addition, 15 persons work in Group functions. 

For different employment groups the need for cost reductions is estimated to be
equal to a maximum of 60 full-time work years. Cost-savings in salary costs can
be implemented for example by terminating permanent employment contracts, by
terminating temporary employment contracts, by temporary lay-offs or lay-offs
for an indefinite period and by changing the essential terms of the employment
contracts. The aim is to conclude the negotiations during week 26. 



Vantaa, 3 May 2013



EXEL COMPOSITES PLC

Vesa Korpimies
President and CEO



Further information:
Mr. Vesa Korpimies, President and CEO, Exel Composites Plc, tel. +358 50 590
6754, or email vesa.korpimies@exelcomposites.com 
Mr. Ilkka Silvanto, CFO, Exel Composites Plc, tel. +358 50 598 9553, or email
ilkka.silvanto@exelcomposites.com 

DISTRIBUTION
NASDAQ OMX Helsinki Ltd.
Main news media
www.exelcomposites.com



EXEL COMPOSITES IN BRIEF
Exel Composites (www.exelcomposites.com) is a technology company which designs,
manufactures and markets composite profiles and tubes for industrial
applications. The Group is the leading composite profile manufacturer in the
world and concentrates on growing niche segments. 

The core of the operations is based on own, internally developed composite
technology, product range based on it and a strong market position in selected
segments with a strong quality and brand image. Profitable growth is pursued by
a relentless search for new applications and development in co-operation with
customers. The personnel's expertise and high level of technology play a major
role in Exel Composites' operations. 

The Exel Composites Plc share is listed in the Small Cap segment of NASDAQ OMX
Helsinki Ltd.