Cencorp - Changes board/management/auditors

Mats Eriksson Resigns from Cencorp - Iikka Savisalo has been appointed new President and CEO of Cencorp and Seija Kurki as new CFO

Cencorp Corporation     Stock Exchange Release 3 April 2012 at 09:20 Finnish
time 

MATS ERIKSSON RESIGNS FROM CENCORP - IIKKA SAVISALO HAS BEEN APPOINTED NEW
PRESIDENT AND CEO OF CENCORP AND SEIJA KURKI AS NEW CFO 

Mats Eriksson, Cencorp Corporation's President and CEO, has resigned from
Cencorp due to a difference of opinion with the Board of Directors concerning
the development of the company. 

Iikka Savisalo, Cencorp's current CFO, has today been appointed the new
President and CEO. Seija Kurki (b. 1963) will take over as the company's new
CFO and will be also member of the management team of Cencorp. Iikka Savisalo
will also continue as a member of the Board of Directors of Cencorp. He has
previously held various positions at Savcor Group Oy, most recently as Senior
Vice President, Business Development. Seija Kurki has held different financial
management positions at Savcor Group Oy since 1984. 

”During the past few years, we have succeeded to develop Cencorp's performance,
making it more efficient. However, the company has been heavily unprofitable.
Savcor Group, as the biggest shareholder of Cencorp Corporation, takes now the
responsibility for bringing the company profitable as soon as possible. The
ongoing project related to renewable energy applications, as well as bigger
production volumes of RFID antennas, will support the efforts to improve the
company's profitability,” says Hannu Savisalo, Chairman of the Board of
Directors. 

Cencorp Corporation's Annual General Meeting will be held on 19 April 2012.
Prior to that, Cencorp will disclose its actions to improve the profitability,
as well as the updated company strategy. 

CENCORP CORPORATION

Hannu Savisalo
Chairman of the Board of Directors

For more information:
Hannu Savisalo, Chairman of the Board of Directors of Cencorp,
tel. +61 417 286 070, hannu.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. The product range also
includes EMI shielding solutions, flexible circuits, decorations and RFID
antennas. Cencorp's customers are automotive electronics manufacturers and
manufacturers operating in telecommunications, industrial automation and EMS.
Cencorp's head office is located in Mikkeli, Finland. The company is part of
the Finnish Savcor Group.