Componenta - Company Announcement

Composition proposals for Componenta Wirsbo AB and Componenta Arvika AB approved

Componenta Corporation Stock Exchange Release on 30.12.2016 at 17.00

District courts in Sweden made their decisions regarding restructuring of
Componenta Wirsbo AB and Componenta Arvika AB. District court of Västmanland
approved the composition for Componenta Wirsbo AB today 30.12.2016. The appeal
period expires on 20.1.2017. District court of Värmland approved the
composition for Componenta Arvika AB on 23.12.2017. The appeal period expires
on 13.1.2017. 

Componenta Wirsbo AB has a restructuring debt of 44 MSEK and respectively
Componenta Arvika AB 76 MSEK. According to the court decisions, unsecured
creditors shall receive full payment up to a total amount of 10,000 SEK and 25%
on the excess claim to be paid. Componenta Wirsbo has a prioritized
restructuring debt of 1.0 MSEK and respectively Componenta Arvika 8.3 MSEK
which must be paid in full. 

Componenta Corporation owns 100% of Componenta Finland Oy, which owns 100% of
Componenta Främmestad AB, which owns 100% of Componenta Wirsbo AB, which owns
100% of Componenta Arvika AB. Each of before mentioned companies are under
separate legal restructuring proceeding. 

On 9.12.2016 Skaraborg district court granted extension of three months for
restructuring proceeding of Componenta Främmestad AB. Stabilization of
Componenta’s Turkish subsidiary Componenta Dökümcülük Ticaret ve Sanayi A.S.
and an agreement of internal debt are seen as a prerequisite for a viable
composition proposal. Componenta’s Turkish subsidiary is the most significant
creditor and casting supplier for Componenta Främmestad AB. 



Helsinki, 30 December 2016

COMPONENTA CORPORATION


Harri Suutari
President and CEO


For further information, please contact:

Harri Suutari
President and CEO
tel. +358 10 403 2200

Marko Karppinen
CFO
tel. +358 10 403 2101


Componenta is a metal sector company with international operations and
production plants located in Finland, Turkey, the Netherlands and Sweden. The
net sales of Componenta were EUR 495 million in 2015 and its share is listed on
Nasdaq Helsinki. The Group employs approx. 3,500 people. Componenta specializes
in supplying cast and machined components and total solutions made of them to
its global customers, who are manufacturers of vehicles, machines and
equipment.