Exel Composites Oyj - Company Announcement

Co-determination negotiations to be started at Exel Composites Group's Joensuu unit

EXEL COMPOSITES PLC     STOCK EXCHANGE RELEASE                   26.10.2012 at
8.50 a.m.         1 (1) 

CO-DETERMINATION NEGOTIATIONS TO BE STARTED AT EXEL COMPOSITES GROUP'S JOENSUU
UNIT 

Co-determination negotiations will be started on 1 November 2012 at the Joensuu
unit of the Exel Composites Group. The negotiations concern the non-salaried
employees of the Joensuu unit. 

At present Exel Composites Group's Joensuu unit employs 127 persons of whom 89
are non-salaried employees. It is estimated that a maximum of 9 employment
contracts of non-salaried employees will be terminated. In addition, temporary
lay-offs of a maximum of 90 days may be considered. Other measures may also be
used to achieve permanent savings in personnel costs. The aim is to conclude
the negotiations at the latest during week 47. 

Co-determination negotiations concerning the salaried employees of the Finnish
units were concluded in July 2012. In addition to the termination of permanent
employment contracts, the salaried employees are being laid off temporarily for
a maximum of 90 days between autumn 2012 and spring 2013. The temporary
lay-offs started in September 2012. 

”We are improving productivity by adjusting our operations and use of capacity
to better correspond with the present market situation”, Mr. Vesa Korpimies,
Exel Composites Plc's President and CEO, says. 

 Vantaa, 26 October 2012



EXEL COMPOSITES PLC

Vesa Korpimies
President and CEO

FURTHER INFORMATION:
Vesa Korpimies, President and CEO, tel. +358 50 590 6754, or email
vesa.korpimies@exelcomposites.com 
Ilkka Silvanto, CFO and Administrative Director, tel. +358 50 598 9553, or
email ilkka.silvanto@exelcomposites.com 

DISTRIBUTION
NASDAQ OMX Helsinki Ltd.
Main news media
www.exelcomposites.com

EXEL COMPOSITES IN BRIEF
Exel Composites (www.exelcomposites.com) is a technology company which designs,
manufactures and markets composite profiles and tubes for industrial
applications. The Group is the leading composite profile manufacturer in the
world and concentrates on growing niche segments. 

The core of the operations is based on own, internally developed composite
technology, product range based on it and a strong market position in selected
segments with a strong quality and brand image. Profitable growth is pursued by
a relentless search for new applications and development in co-operation with
customers. The personnel's expertise and high level of technology play a major
role in Exel Composites' operations. 

Exel Composites Plc share is listed in the Small Cap segment of NASDAQ OMX
Helsinki Ltd.