Componenta - Company Announcement

Statutory negotiations concluded - Componenta to shut down one production line at Pietarsaari foundry

Componenta Corporation   Stock Exchange Release 13.12.2012 at 11.40

Componenta's statutory personnel negotiations that began on 1 November 2012 at
the Pietarsaari foundry have been completed. As a result, it has been decided
to shut down the bigger production line at the foundry by the end of September
2013. The factors leading to this decision were that the capacity utilization
rate at the foundry and its profitability have remained poor for a long time. 

Most of the products made on the production line that is being shut down will
be transferred to the Group's Orhangazi foundry in Turkey, some of them to the
smaller line at the Pietarsaari foundry and some to the Group's Pori foundry. 

This decision will have an impact on personnel, and the jobs of a maximum of
100 people will be phased out at Componenta's Pietarsaari foundry during 2013,
through retirement schemes and redundancies. The Pietarsaari foundry currently
employs about 170 people. 

One-time costs from shutting down the production line at the foundry will be
some EUR 2 million in 2013 and the write-down of operations at some EUR 1
million. The planned product transfers will improve capacity utilization rates
at the Orhangazi and Pori foundries and will help improve their employment
situation. The net reduction in jobs in Finland is estimated to be some 80
people. 

The shut down of the production line and the personnel reductions do not affect
the Pistons business unit that operates in Pietarsaari or Componenta
Corporation engineering personnel located in Pietarsaari. 

In future the Pietarsaari foundry will focus on producing small and medium
volumes as a flexible, high-quality supplier to Nordic customers. 

Helsinki, 13 December 2012

COMPONENTA CORPORATION


Heikki Lehtonen
President and CEO



For further information, please contact:

Heikki Lehtonen
President and CEO
tel. +358 10 403 2200



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 576 million in 2011 and its share is listed on
the NASDAQ OMX Helsinki. The Group employs approx. 4,700 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.

Attachments:

release_13122012_componenta_pietarsaari_final.pdf