Exel Composites Oyj - Company Announcement

Co-determination negotiations to be started in the Finnish units of the Exel Composites Group

EXEL COMPOSITES PLC                           STOCK EXCHANGE RELEASE 19.6.2012
at 13.00             1 (1) 

CO-DETERMINATION NEGOTIATIONS TO BE STARTED IN THE FINNISH UNITS OF THE EXEL
COMPOSITES GROUP 

Co-determination negotiations will be started on 25 June 2012 in the Finnish
units of the Exel Composites Group. The negotiations concern all the salaried
employees working in the Finnish units. 

At present the Finnish units of the Exel Composites Group employ 203 persons of
whom 133 work at the Joensuu factory and 51 at the Mäntyharju factory. In
addition, 19 persons work in Group functions. The number of salaried employees
totals 76. It is estimated that a maximum of 9 employment contracts of salaried
employees will be terminated. In addition, temporary lay-offs of a maximum of
90 days may be considered to achieve permanent savings in personnel costs.
Other measures may also be used to this end. The need to reduce workforce and
temporary lay-offs do not concern non-salaried employees. The aim is to
conclude the negotiations during week 28. 

”We will improve and adjust our operations to better correspond with the
present market situation. We expect to achieve necessary savings by eliminating
overlapping operations and restructuring the organization to improve
efficiency”, Mr. Vesa Korpimies, Exel Composites Plc's President and CEO, says. 

Vantaa, 19 June 2012



EXEL COMPOSITES PLC



Vesa Korpimies
President and CEO



Further information:
Mr. Vesa Korpimies, President and CEO, Exel Composites Plc, tel. +358 50 590
6754, or email vesa.korpimies@exelcomposites.com 
Mr. Ilkka Silvanto, CFO, Exel Composites Plc, tel. +358 50 598 9553, or email
ilkka.silvanto@exelcomposites.com 

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. 

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