Scanfil - Company Announcement

SIEVI CAPITAL PLC'S SUBSIDIARY SCANFIL EMS OY TO RESTRUCTURE FINNISH OPERATIONS

SIEVI CAPITAL PLC     STOCK EXCHANGE RELEASE   9 JUNE 2011    10.30 A.M.

SIEVI CAPITAL PLC'S SUBSIDIARY SCANFIL EMS OY TO RESTRUCTURE FINNISH OPERATIONS

The statutory employer-employee negotiations at Scanfil EMS Oy that started in
April have been completed. The reason for the negotiations was the employer's
plan to reorganise and streamline the operations in Finland. 

Based on the results of the negotiations, Scanfil EMS Oy's Board of Directors
has decided to close down the Vantaa plant, reorganise the operations of the
Sievi plant and to adjust the group administration functions according to the
new situation. 

The reason for closing down the Vantaa plant is that a significant part of the
demand for the products manufactured at the plant is centralised in lower cost
countries. The majority of the plant's production will be moved to the group's
plants in China, and part of the production will be transferred to the Sievi
plant. All of the Vantaa plant employees, numbering 129, will be made
redundant. The aim is to complete the measures by the end of 2011. 

The group administration will be adjusted to correspond with the new situation,
and 3 employees will be laid off. 

The Sievi plant's electronic production will transfer to the Suzhou plant in
China and the Pärnu plant in Estonia. The Sievi plant will focus on sheet metal
mechanics production and assembly of demanding products. Due to the transfer of
production to Sievi, some of the employees to be laid off in Vantaa and group
administration can be offered positions at the Sievi plant. 

The measures by Scanfil EMS Oy will not have an effect on the future prospects
published in Sievi Capital plc's interim report of 27 April 2011. 



SIEVI CAPITAL PLC

Harri Takanen
President

Additional information:
President Harri Takanen
Tel +358 8 4882 111



Distribution         NASDAQ OMX, Helsinki
                           Major Media
                           www.sievicapital.com



Sievi Capital Group comprises the investment and parent company Sievi Capital
plc, and a subgroup called Scanfil EMS Oy, which is engaged in contract
manufacturing for international telecommunications technology and professional
electronics manufacturers. The objective of the investment activities is to
make the management of the company's funds more effective and productive by
diversifying the risks and finding new growth potential. 

Scanfil EMS Oy has 35 years of experience in demanding contract manufacturing.
Scanfil is a systems supplier that offers its products and services to
international telecommunications systems manufacturers and professional
electronics customers. Typical products are equipment systems for mobile and
public switched telephone networks, automation systems, frequency converters,
lift control systems, equipment and systems for electricity production and
transmission, analysers, slot machines and different meteorological
instruments. The company has production facilities in China, Estonia, Hungary
and Finland. 

The associated companies of Sievi Capital Group:
Kitron ASA (KIT) (Sievi Capital plc's share of ownership 32,96%) is a listed
Norwegian subcontractor, which operates in five different customer segments:
the marine and oil industry, basic industry, defence equipment industry,
hospital and healthcare equipment industry and data and telecommunications
industry. In addition to Norway, Kitron ASA has plants and production in
Sweden, Lithuania, Germany, China and, as of the beginning of 2011, also in the
United States. Kitron ASA's turnover in 2010 was NOK 1,643.9 million (about EUR
204.8 million). www.kitron.com 

Greenpoint Oy (Scanfil EMS Oy's share of ownership 40%) focuses on development
and supply of solutions and equipment, which improve placements, visibility and
sales of customer products in the Point-Of-Sale. The Greenpoint product
portfolio includes a large variety of refrigerated merchandisers, displays and
integrated check-out zone concepts. The company serves both brand owners and
retail chains internationally. Along with the European markets Greenpoint Oy
has entered North and Latin American markets through partnerships.
www.greenpoint.fi 

iLOQ Ltd (Sievi Capital plc's share of ownership 23%) develops, manufactures
and markets innovative, high security, electronic and battery-free locking
solutions that combine modern mechatronics with communications and software
technology. The functionality of the iLOQ S10 product concept developed by iLOQ
Ltd and the added customer value it generates have been shown to be good by
achieving significant growth and customer accounts in the Finnish lock market.
The company has built a Finnish distributor network that covers growth centres
and major cities. www.iloq.fi 

IonPhasE Oy (Sievi Capital plc's share of ownership 40%) develops and
manufactures high performance dissipative polymers that help to control static
electricity. IonPhasE products are utilized in wide range of industries like
chemical, automotive, telecommunication and consumer electronics. Based on own
patented technology, IonPhasE manufactures polymers called IonPhasE IPE.
www.ionphase.fi 

Panphonics (Sievi Capital plc's share of ownership 40%) is the world's leading
provider of directional audio solutions. Panphonics manufactures directional
audio solutions for acoustically demanding applications based on it's own
patented technology. Panphonics Sound Shower® directional audio speakers can be
found in banks, retail stores, digital signage projects, information kiosks,
theatres, and offices throughout the world. Panphonics is also component
manufacturer and licensor of plane wave technology for industrial audio
manufacturers and audio solution providers. www.panphonics.com