Cencorp - Company Announcement

CENCORP ACQUIRED SUNWEB SOLAR’S PHOTOVOLTAIC MODULE BUSINESS

Cencorp Corporation              Stock Exchange Release 29 January 2013 at
09.20 Finnish Time 



CENCORP ACQUIRED SUNWEB SOLAR'S PHOTOVOLTAIC MODULE BUSINESS 


Cencorp Corporation (“Cencorp”) and Sunweb Solar Energy Holding B.V.(”Sunweb
Solar”) have completed a transaction through which Cencorp acquires Sunweb
Solar's photovoltaic module business. With the transaction Sunweb Solar's
photovoltaic module business and related pilot production line, the Sunweb
trademark as well as the patents and other intellectual property rights
relating to the business are transferred to Cencorp. 



The purchase price amounting to ca. one million Euros is paid partly in cash
and partly in Cencorp shares. Purchase price paid in Cencorp shares is
4,000,000 registered Cencorp shares, which are, as a part of the transaction,
valued at the price of EUR 0.12 per share. Purchase price paid in cash amounts
to EUR 450,000. Sunweb Solar agrees not to sell its Cencorp shares received as
purchase price payment before 31 December 2013. 



The Sunweb Solar acquisition is part of Cencorp's new strategy, published in
the spring 2012, according to which Cencorp focuses its operations in
development of cleantech applications. 



Iikka Savisalo, Cencorp's CEO:” Sunweb Solar is one of the best-known
trademarks on the photovoltaic module market in Europe. It has always been
linked with very high quality products. The Sunweb Solar acquisition
strengthens Cencorp's competencies and intellectual property rights in the
photovoltaic module business. This transaction together with the TEKES (The
Finnish Funding Agency for Technology and Innovation) funding, published 20
December 2012, will accelerate development work aiming at manufacturing and
implementing a photovoltaic module production line, based on Cencorp's own
layout, in Finland. The factory's location will probably be either Mikkeli or
Salo. The plant is expected to be ready in early 2014 and according to my
current estimations the plant's turnover will exceed 50 million Euros when
operating at full capacity. Sales negotiations regarding the plant's production
capacity are run with several foreign operators. We believe we will get our
first orders already in 2013”, says Iikka Savisalo, Cencorp's CEO. 



Henk Roelofs, Sunweb Solar's CEO: ”I am pleased that we were able to complete
the transaction with Cencorp. Sunweb Solar has invested over 25 million Euros
and serious development effort for several years in the technology which now
was transferred to Cencorp. We are convinced that Cencorp with its
technological and automation know-how and capabilities as well as its
manufacturing competencies has the best possibilities to utilize the whole
potential of our technology. We are extremely happy that our investments in the
Sunweb technology will be commercialized by Cencorp. I believe the transaction
will enable Cencorp to play a leading role in the solar-market and will bring
good interest for our investment in Cencorp shares”, says Henk Roelofs, Sunweb
Solar's CEO. 



Cencorp's transition into a technology company specialised in Cleantech
applications, according to the company's strategy, proceeds as planned. 



Cencorp's most developed Cleantech applications include photovoltaic modules
and relating components and production technology. In the production of
efficient next generation photovoltaic modules automation will play a major
role. In the second half of the year 2012 Cencorp has developed fully automated
production concept for photovoltaic modules. Cencorp's goal is to reach strong
market position as provider of locally produced high-quality photovoltaic
modules. 



Cencorp's transition from a company manufacturing only production automation
applications and special components into a company that develops and provides
Cleantech applications with a strong market position as provider, using laser
and automation technology, of locally in different market areas produced,
high-quality photovoltaic modules, involves risks. Even though Cencorp's
strategy and objectives are based on market knowledge and technical surveys,
the risks are significant and it is not certain if the company reaches all or
part of the targets set for it. Cencorp's future outlook will be highly
dependent on the company's ability to reach the targeted market position in the
global photovoltaic module market as well as on the company's long-term
financing. 



In Mikkeli, 29 January 2013

Cencorp Corporation

Board of Directors



For more information, please contact:



Iikka Savisalo, President and CEO, tel. +358 40 521 6082,

iikka.savisalo@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 customers' production. The product range also
includes EMI shielding solutions, RFID antennas, other flexible circuits
including for example conductive back sheets used in photovoltaic modules and
mobile phone antennas. Cencorp's customers are manufacturers of automotive
electronics, mobile phone antennas and photovoltaic modules as well as
manufacturers operating in telecommunications and in industrial automation.
Cencorp's head office is located in Mikkeli, Finland. The company is part  of
the Finnish Savcor Group.