Efore - Company Announcement

EFORE ESTABLISHES A COMPANY FOR ELECTRIC VEHICLE BUSINESS

Espoo, Finland, 2011-01-12 08:00 CET (GLOBE NEWSWIRE) -- EFORE PLC Stock
Exchange Release   12 January 2011   9.00 a.m. 





EFORE ESTABLISHES A COMPANY FOR ELECTRIC VEHICLE BUSINESS



Efore has decided to establish a company for eletric vehicle (EV) business in
China. Establishment of the company is a part of the implementation of the
recently defined strategy. The main market of Efore's EV business is expected
to developed in China. New organisation focused on product development of DC/DC
converters and chargers for EVs will be built up during the fiscal year 2011. 

Efore already has a sales office in Beijing, a product development and
manufacturing units in Suzhou and a product development centre in Shenzen. 

“This is an important step when starting up Efore's EV business” says Vesa
Vähämöttönen, Efore's President and CEO. 



EFORE PLC

Board of Directors



For further information please contact Mr. Vesa Vähämöttönen, CEO, tel +358 9
4784 6312. 



DISTRIBUTION

Nasdaq OMX Helsinki Oy

Principal media





Efore Group

Efore Group is an international company which develops and produces demanding
power supply products. Besides Finland, the company's product development and
marketing units are located in China, the USA and Sweden. Its production units
are located in China and Estonia. In the fiscal year ending in October 2010,
consolidated net sales totaled EUR 69,7 million and the Group's personnel
averaged 534. The company's share is quoted on the Nasdaq OMX Helsinki Ltd. 





www.efore.com




         Vesa Vähämöttönen, CEO, tel +358 9 4784 6312.