Salcomp Oyj
SALCOMP GROUP’S INTERNAL STRUCTURING TRANSACTION – TRANSFER OF CERTAIN BUSINESSES TO SALCOMP MANUFACURING OY
Salcomp Oyj 24.11.2010 13:45 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Salcomp Plc Stock Exchange Release 24 November 2010 at 14.45 Finnish time SALCOMP GROUP'S INTERNAL STRUCTURING TRANSACTION - TRANSFER OF CERTAIN BUSINESSES TO SALCOMP MANUFACURING OY Salcomp Plc has signed an agreement according to which it will sell and transfer R&D, sourcing, production and logistics know-how as well as related business processes (the 'Business') to its fully owned subsidiary Salcomp Manufacturing Oy. Global customer relationship management, sales and marketing, as well as financing of the Business shall remain with Salcomp Plc. The sale and transfer of the Business supports Salcomp's growth strategy strengthening worldwide market leadership in adapter and charger solutions. The sale and transfer of the Business will be implemented on 31 December 2010. Salcomp Manufacturing Oy will pay EUR 35 million in cash to Salcomp in connection with the implementation of the sale and transfer of the Business. The EUR 35 million payment of Salcomp Manufacturing Oy will be financed by a loan in an amount equal to the payment to be granted by Salcomp to Salcomp Manufacturing Oy in connection with the implementation of the sale and transfer of the Business. When the sale and transfer of the Business is implemented Salcomp Plc will realize a gain of EUR 35 million which will increase distributable funds by the same amount. No deferred tax asset relating to this transaction has been recorded in the previous financial statements, nor have any tax assets been booked in the third quarter Interim Report of 2010. The transaction will have no impact on the Group full year result but as a result of the transaction, Salcomp Plc will have distributable funds at year end 2010. SALCOMP PLC Markku Hangasjärvi President and CEO FURTHER INFORMATION Markku Hangasjärvi, President and CEO, tel. +358 40 7310 114 DISTRIBUTION NASDAQ OMX, Helsinki The main media www.salcomp.com Salcomp develops and manufactures chargers for mobile phones and other electronic devices. The net sales in 2009 were some EUR 239.5 million. The Group employs some 11,000 people. News Source: NASDAQ OMX 24.11.2010 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Salcomp Oyj Finland Phone: Fax: E-mail: Internet: ISIN: FI0009013924 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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