ETTEPLAN CONTINUES ITS INVESTMENTS IN CHINABack to Releases
ETTEPLAN OYJ STOCK EXCHANGE RELEASE JULY 1, 2010, at 09:30 A.M.
ETTEPLAN CONTINUES ITS INVESTMENTS IN CHINA Etteplan increases its ownership in Etteplan Vataple Technology Centre Ltd. (EVTC), located in Kunshan, from 40% to 70% on July 1, 2010. Etteplan used its option right to buy the majority of the share capital of the company according to the contract that came into force on April 8, 2008. Etteplan's Kunshan and Shanghai units provide our customers significant flexibility in operations and cost effective operating models in operational and expertise services in the areas of technical design and product information. Service offering covers also localisation services related to production transfer to our customers that already have production in Asian market or have made the decision to transfer production there. Units in China produce services for over 20 customers to Europe and Asia at the moment. There are approximately 125 employees working in China units. “Our customers have experienced it easy to use Etteplan's cost efficient way of producing engineering services reliably from our units in China. Commencing engineering operations in Asia is a competence requiring process, where Etteplan's experience in demanding technology transfer has been utilized. At the moment we are able to serve the growing number of customers with the help of our effective recruiting and training process. Data secure operating model and reliable data-communication links are an important part of operation prospects.” says Matti Hyytiäinen, President and CEO of Etteplan. Vataple Group Ltd. continues as minor shareholder in EVTC and participates in the long term development of the company. Vataple Group is especially responsible for recruiting personnel and taking care of governmental matters in China. Vataple Group Ltd. is a privately held company which has headquarter in Hong Kong. Vataple Group specialises among others in manufacturing of airport jetways, manufacturing of demanding steel structures as well as industrial park development. Hollola, July 1, 2010 Etteplan Oyj Additional information: Matti Hyytiäinen, President and CEO, tel. +358 400 710 968 DISTRIBUTION: NASDAQ OMX Helsinki Major media www.etteplan.com Etteplan is a specialist in industrial equipment engineering and technical product information solutions and services. Our customers are global leaders in their fields and operate in areas like the automotive, aerospace and defence industries as well as the electricity generation and power transmission sectors, and material flow management. Etteplan has comprehensive competence in electronics and embedded systems development, automation and electrical design, mechanical design and technical product information solutions and services. In 2009, Etteplan had turnover of EUR 98.7 million. Etteplan's shares are listed on NASDAQ OMX Helsinki Ltd under the ETT1V ticker.