Cencorp - Company Announcement

Cencorp has finalized negotiations concerning the sale-leaseback of its Beijing plant building - the money from the transaction was used to reduse the group's loan liabilities by around EUR 3.9 million

Cencorp Corporation  Stock Exchange Release 28 March 2012 at 08:45 Finnish time

CENCORP HAS FINALIZED NEGOTIATIONS CONCERNING THE SALE-LEASEBACK OF ITS BEIJING
PLANT BUILDING - THE MONEY FROM THE TRANSACTION WAS USED TO REDUCE THE GROUP'S
LOAN LIABILITIES BY AROUND EUR 3.9 MILLION 

Cencorp's Chinese subsidiary Savcor Face (Beijing) Technologies Co., Ltd
carried out a sale-leaseback of its plant building in Beijing with a
real-estate investor in the amount of RMB 38.5 million, i.e. around EUR 4.7
million. The company will recognize a gain of approximately EUR 1.1 million on
the real estate transaction. The duration of the finalized lease contract is 10
years. 

Cencorp used the consideration received for the property to repay the Bank of
China a loan of RMB 32 million, i.e. some EUR 3.9 million. The usual property
transaction registration procedures with the Chinese authorities are still
pending, and they are expected to be completed during the first half of 2012. 

Previous releases concerning the ongoing process related to the sale-leaseback
of the Beijing plant building were published on 7 November 2011, 31 December
2011 and 31 January 2012. 

CENCORP CORPORATION

Mats Eriksson
President and CEO

For more information:
Mats Eriksson, President and CEO, 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 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.