Cencorp - Company Announcement

STATUTORY NEGOTIATIONS CONCERNING LAY-OFFS CONCLUDED

Cencorp Corporation     Stock Exchange Release 19 September 2011 at 14.30
Finnish time 

Cencorp's statutory negotiations which started on 14 September 2011 have been
concluded. 

Cencorp's personnel in Finland will be laid off by financial and
production-related reasons in phases on average for seven days per calendar
month, starting as of 3 October 2011. The maximum number of lay-off days will
be 90 days per person. 

The lay-offs will be carried out in phases in order to maintain the company
operating ability and the capacity to deliver products according to the demand. 

“Negotiations were concluded during less than one week, and Cencorp's personnel
showed real commitment to obtain the needed savings on fast timetable. I would
like to thank the employees for the well-run negotiations,” says Mats Eriksson,
President and CEO. 

Measures that were launched already during the first quarter of the year in
order to rationalize the operations and improve profitability have stepped up
in the Special Components segment, among other things, by concentrating
manufacturing in China on two plants instead of the previous three. The
rationalization measures will be continued by focusing on those product groups
in which growth and profitability can be achieved without remarkable
investments. 

Cencorp Corporation


Mats Eriksson

President and CEO



For more information:

President and CEO Mats Eriksson, 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 the 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.