Exel Composites Oyj - Company Announcement

Co-determination negotiations concluded in the Finnish units of the Exel Group

EXEL COMPOSITES OYJ		STOCK EXCHANGE RELEASE 31.7.2009 at 13.00	1 (2)

CO-DETERMINATION NEGOTIATIONS CONCLUDED IN THE FINNISH UNITS OF THE EXEL GROUP

The co-determination negotiations concerning the Exel Group's Finnish units
were concluded on 31 July 2009. 
The negotiations were based on the employer's negotiation proposal. It was
estimated that a maximum of 34 employment contracts of non-salaried employees
and 14 employment contracts of salaried employees be terminated. 

As a result of negotiations, the amount of permanent employment contracts to be
terminated is 19. Of this, possibilities for various retirement plans or
part-time employment contracts will be investigated for 7 persons. From
contracts to be terminated, 11 are for non-salaried employees and 8 for
salaried employees. The terminated contracts of non-salaried employees concern
the Group's Kivara factory. The employment contracts of salaried employees to
be terminated concern all the Finnish units of the Group. In addition, 7
temporary employment contracts for non-salaried employees and 1 for salaried
employees come to termination at the end of their duration. Furthermore, the
job descriptions, tasks and essential terms of the employment contracts of both
non-salaried and salaried employees will be altered to correspond to the new
situation when necessary. 

In addition, Exel issues a warning of temporary layoffs covering all the
employees of the Finnish units, which will be adjusted in accordance with the
negotiation proposal. The warning of temporary layoffs is valid until the end
of 2010. 

Significant personnel reductions will take place by the end of 2009. Thus, the
measures taken are expected to have an effect on the Group's financial
situation only in 2010. 

The development of the market situation is monitored at all times, and if
necessary, measures will be taken rapidly. 

After the layoffs the Group's Finnish units employ 178 persons.



Vantaa, 31 July 2009 


EXEL COMPOSITES PLC

Vesa Korpimies
President and CEO


FURTHER INFORMATION: 
Vesa Korpimies, President and CEO, Exel Composites Plc, tel. +358 50 590 6754,
or email vesa.korpimies@exel.net 
Ilkka Silvanto, CFO, Exel Composites Plc, tel. +358 50 598 9553, or email
ilkka.silvanto@exel.fi 



DISTRIBUTION
NASDAQ OMX Helsinki Ltd.
Main news media
www.exelcomposites.com


EXEL COMPOSITES IN BRIEF 
Exel Composites (www.exelcomposites.com) is a technology company which designs,
manufactures and markets composite profiles and tubes for industrial
applications. The Group is the leading composite profile manufacturer in the
world and concentrates on growing niche segments. 

The core of the operations is based on own, internally developed composite
technology, product range based on it and a strong market position in selected
segments with a strong quality and brand image. Profitable growth is pursued by
a relentless search for new applications and development in co-operation with
customers. The personnel's expertise and high level of technology play a major
role in Exel Composites' operations. 

Exel Composites Plc share is listed in the Small Cap segment of NASDAQ OMX
Helsinki Ltd.