Cencorp - Company Announcement

CENCORP CORPORATION STARTS STATUTORY NEGOTIATIONS IN ITS INDUSTRIAL AUTOMATION RELATED SEGMENTS – THE STATUTORY NEGOTIATIONS DO NOT CONCERN THE CENCORP CLEAN ENERGY BUSINESS SEGMENT

CENCORP CORPORATION          STOCK EXCHANGE RELEASE 16 May 2014 at 13.05
FINNISH TIME 



CENCORP CORPORATION STARTS STATUTORY NEGOTIATIONS IN ITS INDUSTRIAL AUTOMATION
RELATED SEGMENTS - THE STATUTORY NEGOTIATIONS DO NOT CONCERN THE CENCORP CLEAN
ENERGY BUSINESS SEGMENT 



In order to improve the company's profitability and cost-effectiveness of the
operations and the sales as well as to strengthen competitiveness in its Laser
and Automation Solutions segment (“LAS”) and Life Cycle Management segment
(“LCM”), and to adjust its operations to the changed business environment,
Cencorp has decided to investigate the options of restructuring and downsizing
the company's operations relating to the LAS and LCM business. In relation to
the process the company is reviewing possibilities to relocate its spare parts
operations and service to Estonia. In addition, Cencorp reviews different
options for the company's location and premises in Salo, Mikkeli and other
places in Finland. 

To adjust its operations Cencorp starts statutory negotiations in all its
offices in Finland based on the grounds related to the restructuring of the
operations and on production-related and financial grounds. The statutory
negotiations will include all Cencorp employees in Finland excluding the
personnel working within Cencorps Clean Energy segment. The negotiations
concern reduction in labor of max. nine employees. 



In Mikkeli, 16 May 2014



CENCORP CORPORATION





For more information:

Iikka Savisalo

President and CEO

Cencorp Oyj

Tel. +358 40 521 6082,

Email: iikka.savisalo@cencorp.com







Distribution:

NASDAQ OMX, Helsinki

Main media

www.cencorp.com





Cencorp Corporation is a leading provider of industrial automation solutions.
The equipment in the product portfolio include, automated applications of
odd-form assembly and  depaneling for the electronic boards, testing equipment
and advanced materials processing by laser. All Cencorp's offering improves the
efficiency of the customers' production. Cencorp has clean technology,
especially photovoltaic (PV) solutions as its other business segment. Cencorp
now offers its automated manufacturing technology of the PV modules,
manufactures and sells photovoltaic modules, based on Cencorp´s own technology
as well as key components of photovoltaic modules. The product range also
includes EMI shielding solutions, RFID antennas, other flexible circuits
including for example conductive back sheets used in photovoltaic modules and
mobile phone antennas. Cencorp's head office is located in Mikkeli, Finland.
The company is part of the Finnish Savcor Group.