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2010-11-01 08:00:00 CET 2010-11-01 08:00:03 CET REGULATED INFORMATION Scanfil - Company AnnouncementSCANFIL PLC'S SUBSIDIARY SCANFIL EMS OY AND OJALA-YHTYMÄ OY TO MERGESCANFIL PLC STOCK EXCHANGE RELEASE 1 NOVEMBER 2010 9.00 A.M. SCANFIL PLC'S SUBSIDIARY SCANFIL EMS OY AND OJALA-YHTYMÄ OY TO MERGE Scanfil plc's subsidiary Scanfil EMS Oy and Ojala-Yhtymä Oy have a signed a merger agreement whereby Ojala-Yhtymä Oy will merge into Scanfil EMS Oy. The general meetings of shareholders of both companies have approved the merger plan on 1 November 2010. The purpose is to execute the merger during the first half of 2011. Following the merger, Scanfil plc will have a 79% holding in Scanfil EMS Oy and former owners of Ojala-Yhtymä Oy a 21% holding. Harri Takanen, President of Scanfil plc: "The arrangement results in an even more competitive company that is more capable of meeting the requirements set by markets and customers. Scanfil EMS Oy and Ojala-Yhtymä Oy complement each other well, and we believe that there will be significant synergy benefits. When two industry-leading companies in Finland merge, this results in a sufficiently large company to meet the challenges caused by structural change in the contract manufacturing industry.” As a result of the merger, the largest professional electronics and telecommunications technology contract manufacturing centre in Finland will be formed in Sievi. Ojala-Yhtymä's foreign units complement Scanfil EMS Oy's international functions and the new company will have good global coverage. The merger will result in synergy benefits in manufacturing, material procurement and logistics. The benefit of the merger has been estimated to be so significant that the merger is an excellent solution from the point of view of both companies and their customers. Ojala-Yhtymä Oy has manufacturing operations in Sievi (Finland), Slovak and India. Ojala-Yhtymä Oy's main customers are international players in the electricity, telecommunications and automation industries. The company also has potential customers in the rapidly growing environmental and recycling technologies. Scanfil EMS Oy 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. KEY FIGURES EUR million 2008 % 2009 % 1-9 2010 % Scanfil Group / Scanfi EMS Group Turnover 218,9 197,3 157,2 Operating profit 21,1 9,7 15,6 7,9 8,1 5,1 Net profit 15,6 7,1 9,9 5,0 5,0 3,2 Ojala-Yhtymä Group Turnover 48,5 32,1 34,1 Operating profit 8,2 16,9 1,1 3,4 3,0 8,8 Net profit 5,9 12,2 0,3 1,0 2,0 5,8 Proforma Turnover 226,6 228,9 191,0 Operating profit 29,3 11,0 16,7 7,3 11,1 5,8 Net profit 21,5 8,1 10,3 4,5 6,9 3,6 Due to the business transfer carried out in 2008, the figures for 2008 are Scanfil Group's figures. Scanfil EMS Group's, Pro forma and 1-9/2010 figures have not been audited. SCANFIL PLC Harri Takanen President Additional information: President Harri Takanen Tel +358 8 4882 111 Distribution NASDAQ OMX, Helsinki Major Media www.scanfil.com Scanfil Group comprises the investment and parent company Scanfil 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 has over 30 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 Scanfil Group: Kitron ASA (KIT) (Scanfil 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 2009 was NOK 1,730.7 million (about EUR 218.5 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 IonPhasE Oy (Scanfil 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 (Scanfil 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 |
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