|
|||
2012-01-23 07:50:00 CET 2012-01-23 07:50:02 CET REGULATED INFORMATION Cencorp - Company AnnouncementCENCORP CONCLUDED A SIGNIFICANT AGREEMENT ON DELIVERING COMPONENTS FOR RENEWABLE ENERGY SOLUTIONSCencorp Corporation Stock exchange release 23 January 2012 at 08:50 Finnish time Cencorp Corporation has concluded a significant frame agreement on delivering flexible circuits for renewable energy solutions. The value of the frame agreement may exceed EUR 50 million over the course of three years. ”When the orders that are part of the frame agreement materialize, our net sales will grow significantly over the next three years. Specializing in flexible circuits which started with mobile phone antennas and continued with RFID antennas has proved to be a right strategic decision. The product group has potential to further grow and develop into one of Cencorp's key product groups,” says Mats Eriksson, President and CEO of Cencorp. “Delivering components for renewable energy solutions is a natural step along our strategic path. We have identified renewable energy applications as one of our strategic growth areas. Our product and service offering supports the strategy very well: customers whose target is to develop commercial applications in new energy sources will also need our laser and automation product range,” Eriksson states. In the frame agreement, the companies have agreed on the terms and conditions, as well as estimates, non-binding for the customer, regarding production volumes during 2012-2014. The potential orders will come from the customer as separate orders within the limits of the agreement concluded today. Risks related to the frame agreement mainly include the realization of the customer's own production volumes and the development of the global economy in general. The trade has been prepared since the spring 2011, and it has had a significant impact on the development of Cencorp's outlook in 2011. Cencorp's competitive edges include long experience in developing and high volume manufacturing flexible circuits, as well as the R&D process carried out together with the customer. At the moment, Cencorp delivers flexible circuits for mobile phone antennas, RFID (radio frequency identification) products, LED lights and NFC (near field communication) applications. Flexible circuits are manufactured in Cencorp's China plant. In the January-September period, Cencorp Group's net sales were EUR 19.9 million and the net sales of the Special Components segment EUR 7.6 million. Cencorp Corporation Mats Eriksson President and CEO For more information: President and CEO Mats Eriksson, tel. +358 400 358 982, mats.eriksson@cencorp.com Distribution: NASDAQ OMX, Helsinki Main media www.cencorp.com Cencorp Corporation is a leading provider of industrial automation solutions. The equipment included in the product portfolio designed for depaneling, odd-form assembly, testing and laser materials processing substantially improves the efficiency of the customers' production. The product range also includes EMI shielding solutions, flexible circuits, decorations and RFID antennas. Cencorp's customers are automotive electronics manufacturers and manufacturers operating in telecommunications, industrial automation and EMS. Cencorp's head office is located in Mikkeli, Finland. The company is part of the Finnish Savcor Group. |
|||
|