Efore - Company Announcement

Efore has closed master supply and asset agreements with Wuxi Hodgen Technology

Espoo, Finland, 2016-10-10 16:40 CEST (GLOBE NEWSWIRE) -- EFORE PLC  Stock
Exchange Release    October 10, 2016 at 5.40 p.m. 



Efore Plc has closed the master supply and asset agreements with Wuxi Hodgen
Technology Co Ltd (Hodgen) as well as the selling process related to
outsourcing of manufacturing and manufacturing support functions at the Suzhou
plant in China. The stock exchange release concerning the master supply and
asset agreements with Wuxi Hodgen Technology as well as the selling process
related to outsourcing of manufacturing and manufacturing support functions at
the Suzhou plant in China was published on August 31, 2016 

Hodgen will continue activities in Efore’s current production facility in
Suzhou so far. Efore will remain responsible for the quality of the delivered
products as well as for the NPI (New Product Introduction) process. 

This arrangement is a key part of Efore’s strategy and will allow Efore to
become a company focused on the product development of demanding power
products. At the same time the outsourcing will significantly reduce
operational costs. 

EFORE PLC

Jorma Wiitakorpi
President and CEO

For further information please contact Mr. Jorma Wiitakorpi, President and CEO,
on October 10, 2016 tel. +358 40 175 8510 

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