Exel Composites Oyj - Company Announcement

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

EXEL COMPOSITES PLC		STOCK EXCHANGE RELEASE 11.6.2009 at 12.00	1 (1)

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

Exel Composites continues measures to improve its profitability and efficiency.

Co-determination negotiations will be started in the Finnish units of the Exel
Group due to declining demand and to improve efficiency. The negotiations
concern all the persons working in the Finnish units. 

At present the Finnish units of the Exel Group employ 204 persons of whom 132
work at the Kivara factory and 59 at the Mäntyharju factory. In addition, 13
persons work in Group functions. The aim is to conclude the negotiations during
week 31. It is estimated that a maximum of 34 employment contracts of
non-salaried employees will be reduced at Exel Composites Plc's Finnish
factories, or achieve in another way corresponding savings in labor costs. As
far as the employment contracts of salaried employees are concerned, it is
estimated that a maximum of 14 employment contracts will be reduced at Exel
Composites Plc's Finnish units, or achieve in another way corresponding savings
in labor costs. 

”We will improve and adjust our operations to better correspond with the
present market and competition situation. We expect to achieve necessary
savings for example by eliminating overlapping operations and restructuring the
organization”, Mr. Vesa Korpimies, Exel Composites Plc's President and CEO,
says. 



Vantaa, 11 June 2009


EXEL COMPOSITES PLC


Vesa Korpimies
President and CEO



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


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


EXEL COMPOSITES IN BRIEF 
Exel Composites 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. 

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