Efore - Company Announcement

Efore has agreed upon new credit arrangement

Espoo, Finland, 2016-12-21 08:50 CET (GLOBE NEWSWIRE) -- EFORE PLC  Stock
Exchange Release    December 21, 2016 at 9.50 a.m. 


Efore Plc continues implementing its strategy according to the plans and has
agreed upon a new credit arrangement amounting to EUR 2 million for 6 months
period. Jussi Capital Oy, which belongs to the related parties of the Company,
has granted the loan. The credit arrangement has been conducted on market
equivalent terms in line with the interests of the company from the company’s
business perspective. 

Substantial one-time costs related to the actions ongoing from the planned cost
savings program and the outsourcing of the production are estimated to be
approximately EUR 5-6 million as announced on October 19, 2016. The new loan
arrangement will ensure Efore’s financing of the one-time costs resulting from
the structural changes. 

EFORE PLC

Jorma Wiitakorpi
President and CEO

For further information please contact Mr. Jorma Wiitakorpi, President and CEO,
 tel. +358 40 175 8510 on Dec. 21, 2016. 

DISTRIBUTION

Nasdaq Helsinki Oy
Principal media

Efore Group is an international company which develops and produces demanding
power products. Efore's head office is based in Finland and its R&D functions
are located in Finland, Sweden, Italy and China. Sales and marketing operations
are located in Europe, United States and China. In the fiscal year ending in
December 2015, consolidated net sales totalled EUR 89,9 million and the Group's
personnel averaged 887. The company's share is quoted on the Nasdaq Helsinki
Ltd.www.efore.com