Neo Industrial Oyj - Company Announcement

JARI SALO APPOINTED NEO INDUSTRIAL’S MANAGING DIRECTOR

NEO INDUSTRIAL PLC  STOCK EXCHANGE RELEASE  18 September 2012 at 3.00 pm

Mr. Jari Salo (49), M.Sc. (Tech.), has been appointed Managing Director of Neo
Industrial Plc. Salo will start in his new position on 8 October 2012. The
shareholders representing over 50 per cent of the votes, propose that Mr.
Markku E. Rentto, company's current Managing Director, will proceed to work as
Chairman of the Board on the next General Meeting . 

In this context, Reka Cables' COO Mr. Jorma Wiitakorpi (54), M.Sc. (Tech.),
will be appointed Managing Director of the company. 

Mr. Salo has previously acted as President and CEO of ValuCast Group. The
company operates in sales, marketing, manufacturing and importing of iron and
steel components for machine construction industry. Salo has strong experience
in international business as Head of Wärtsilä's global propulsion factories in
Netherlands. Prior to that, he acted as Director of Wärtsilä's factory in
Turku. 

Neo Industrial is going through significant changes at the moment. The Group 
will be divided into two: Reka Cables will remain in Neo Industrial Group  and 
the viscose fibers segment, Avilon Plc, will be operating as a separate
company. Avilon Plc is intended to go public in the first half of 2013. 

- Cable business is a growing area. With the appointment of Jari Salo  we are
aiming to strenghten further our position on the growing markets of Baltic and
Russia. As a separate company, Avilon will also have better possibilities to
develop its global sales and consolidate co-operation with interesting new
partners, emphasizes Mr. Matti Lainema, Chairman of the Board. 

- The strategy of Neo Industrial Group will not change. We will continue to
invest in industrial companies enabling synergic benefits and to develop the
acquired companies with active ownership, states Mr. Markku E. Rentto. 



Neo Industrial Plc
Board of Directors



For further information, please contact:
Matti Lainema, Chairman of the Board, tel. + 358 44 044 9666
Markku E. Rentto, Managing Director, tel. +358 20 720 9191
Jari Salo, tel. + 358 44 700 4466

ENCLS: Jari Salo's CV and photo

www.neoindustrial.fi

Neo Industrial's strategy is to invest mainly in industrial companies with
similar synergic benefits. The aim of investments is with active ownership to
develop the purchased companies and establish additional value. Returns are
sought through both dividend flow and an increase in value. Neo Industrial's
class B shares are listed on the NASDAQ OMX Helsinki Stock Exchange. Neo
Industrial's business segments are Cable and Viscose Fibers.

Attachments:

Jari Salo CV_ENG.pdf