Cencorp - Company Announcement

CENCORP AND SUNWEB SOLAR ENERGY HOLDING B.V. HAVE SIGNED A MEMORANDUM OF UNDERSTANDING ON PHOTOVOLTAIC MODULE BUSINESS ACQUISITION

Cencorp Corporation           Stock Exchange Release  1 October 2012 at 14.00



CENCORP AND SUNWEB SOLAR ENERGY HOLDING B.V. HAVE SIGNED A MEMORANDUM OF
UNDERSTANDING ON PHOTOVOLTAIC MODULE BUSINESS ACQUISITION 



Cencorp Oyj (”Cencorp”) and a Dutch company, Sunweb Solar Energy Holding B.V.
(”Sunweb Solar”) have signed a Memorandum of Understanding (MOU), according to
which Cencorp acquires Sunweb Solar's photovoltaic module business and related
pilot production line, the Sunweb trademark as well as the patents and other
intellectual property rights relating to the business. The Memorandum of
Understanding is non-binding. The purchase price stated in the MOU amounts to
about one million Euros which will be paid partly in cash and partly in Cencorp
shares. Purchase price paid in Cencorp shares is 4,000,000 registered Cencorp
shares, which are, as a part of the transaction,valued at the price of EUR 0.12
per share. Purchase price paid in cash amounts to EUR 450,000. Sunweb Solar
agrees not to sell its Cencorp shares received as purchase price payment within
12 months from the directing of the shares to Sunweb Solar. 

The MOU signed with Sunweb Solar is part of Cencorp's new strategy, published
in the spring 2012, according to which Cencorp focuses in development of
cleantech applications. This MOU is a continuation of Memorandum of
Understanding, signed with Avery Dennision and published on 21 August 2012, on
acquiring Avery Dennison's conductive backsheet business into Cencorp. The
acquisition, in accordance with the MOU, will strenghten Cencorp's knowhow and
intellectual property rights portfolio relating to photovoltaic module
business. The pilot production line that is part of the transaction enables
Cencorp to manufacture modules in small scale in Finland already in 2013. 

”Sunweb Solar is one of the best-known trademarks on the photovoltaic module
market in Europe. It has always been linked with very high quality products.
With the Sunweb trademark and module technology acquisition we'll take another
step towards our goal to be a leading provider of modern photovoltaic modules
in Europe”, says Iikka Savisalo, Cencorp's CEO. 

“Sunweb Solar has invested over 25 million Euros and serious development effort
for several years in the technology which will be transferred to Cencorp. We
are convinced that Cencorp with its technical know-how and capabilities as well
as its manufacturing competencies has best possibilities to utilize the whole
potential of our technology. We are extremely happy that our investments in the
Sunweb technology will be successfully introduced in the market by Cencorp. It
will enable Cencorp to play a leading role in the solar-market and will bring
good interest for our investment in Cencorp shares", says Henk Roelofs, CEO
from Sunweb Solar. 

The final terms of the transaction are still under negotiations and realization
of the acquisition is not yet certain. Additionally, the transaction is still
subject to several subjects such as due diligence and especially to Cencorp's
short and long term financing required to run the business being acquired.
Thus, Cencorp is not yet able to estimate possible realization, effective date,
acquisition's influence in Cencorp nor risks relating to the transaction.
Cencorp will announce further information as soon as the negotiations have been
finished, which is expected to take place by the end of 2012. 



In Mikkeli, 1 October 2012

CENCORP CORPORATION

BOARD OF DIRECTORS



For more information, please contact:

Cencorp: Iikka Savisalo, President and CEO, tel. +358 40 521 6082,
iikka.savisalo@savcor.com 



Distribution:NASDAQ OMX, HelsinkiMain 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
substantiallyimproves the efficiency of customers' production. The product
range alsoincludes EMI shielding solutions, flexible circuits 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.