Vacon - Company Announcement

AMSC and the shareholders of The Switch Engineering Oy terminate acquisition agreement

Vacon Plc, Stock Exchange Release, 31 October 2011 at 2.20 pm

AMSC (American Superconductor Corporation) has today announced that its Share
Purchase Agreement with the shareholders of The Switch Engineering Oy dated
March 12, 2011 has been terminated. According to AMSC, the agreement was
terminated due to adverse market conditions for a financing required to fund the
acquisition.

The Switch shareholders will retain the MEUR 14.2 advance payment that was made
by AMSC on June 29, 2011 as a break-up fee.

Vacon's share of the break-up fee is MEUR 2.6 and it will raise Vacon's 2011
earnings per share by approximately EUR 0.14. Vacon owns directly 14% of the
shares of The Switch Engineering and has a further 5% holding in The Switch
Engineering through the Power Fund I investment fund.

Further information:

  * President and CEO, Vesa Laisi, Phone +358 (0)40 837 1510

Press contact:

  * Director, Corporate Communications and Investor Relations, Sebastian Linko,
    +358 (0)40 837 1634

Vacon in brief:

Vacon is driven by a passion to design, manufacture and sell only the best AC
drives on the planet - and nothing else. AC drives can be used to control
electric motors or to help generate power from renewable sources. Vacon has R&D
and production units in Finland, the United States, China and Italy, and sales
offices in 27 countries. In 2010, Vacon had revenues of EUR 338 million and
globally employed 1,300 people. Vacon's shares (VAC1V) are listed and publicly
traded on the Helsinki Stock Exchange.

Driven by Drives, www.vacon.com

Distribution:
NASDAQ OMX Helsinki
Main Media
Financial Supervisory Authority



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