LAROX CORPORATION COMPANY ANNOUNCEMENT 15.8.2008 AT 10 am
The transfer of Turku Ceramics Oy to Larox ownership further delayed
The transaction based on a letter of intent between Larox Corporation and the
owners of Turku Ceramics Oy, of which a company accouncement was published on
9 May 2008 and according to which the entire capital stock of Turku Ceramics Oy
was to be transferred to the ownership of Larox Corporation, will be further
delayed due to outside due diligence study schedules.
As informed in the company announcement published on 30 June 2008, the parties
had agreed the transaction to take place during the first half of August. Due to
outside due diligence study schedules the parties now expect the transaction to
be realized during September.
Turku Ceramics Oy production facilities are located in Turku. The company
concentrates mainly on subcontract manufacturing of highly tailored parts and
components designed by the customers. Durable high tech ceramics are used more
and more to replace conventional materials in challenging conditions of machine
and chemical process industries. In 2007 net sales of Turku Ceramics Oy totaled
EUR 3.4 million and the number of personnel was 26.
Larox uses ceramic plates supplied by Turku Ceramics as filter elements in disc
filters. Their markets especially in the mining industry are growing strongly.
Larox Corporation
Mr Topi Karppanen
President & CEO
For further information please contact
Topi Karppanen
Tel +358 (0) 20 7687 210
Fax +358 (0) 20 7687 277
E-mail topi.karppanen@larox.com
Internet www.larox.com
Mr Jerry Kulmala
Tel. +358 2 275 6400
Fax. +358 2 275 6420
jerry.kulmala@turkuceramics.fi
Distribution OMX Nordic Exchange in Helsinki, Central media
Larox develops, designs and manufactures industrial filters and is a leading
technology company in its field. Larox is a full service solution provider in
filtration for separating solids from liquids. It supplies comprehensive
aftermarket services throughout the lifespan of the Larox solution. Companies
world-wide in mining and metallurgy, chemical processing and related industries
benefit from the Larox technologies. Larox operates in over 40 countries and has
over 460 employees. Larox Group is headquartered in Lappeenranta, Finland where
the Group also has production facilities. Net sales in 2007 totaled 158.3
million euros, of which more than 95 % were generated by exports and the
company's foreign operations.