ETTEPLAN ACQUIRED A MAJORITY STAKE IN DOKUMENTORI OY
Stock exchange release – Published: 03.10.2005 14:00:00
ETTEPLAN ACQUIRED A MAJORITY STAKE IN DOKUMENTORI OY Etteplan Oyj has today signed an agreement according to which the company acquired a majority stake in DokuMentori Oy of Tampere, Finland. In 1998 established DokuMentori provides products and services for technical documentation. The net sales of the company in 2004 amounted to EUR 4 million and it currently employs 75 persons. The company has two offices in Finland, in Tampere and Turku. The sellers are the management of the company from whom Etteplan buys 70 % share of ownership and a corresponding share of voting right in the company. The transaction is made in form of share swap in such a way that 42 DokuMentari shares are traded against 517 084 Etteplan shares. The market value for Etteplan's share is approximately EUR 6,06. Etteplan will prepare a share issue for the contract price payment. Mr. Raimo Kivioja, the Managing Director of DokuMentori Oy, the management and the entire personnel continue in their present position in their tasks in the company. The agreement between Etteplan and the sellers includes an option according to which Etteplan can at a later date increase its' ownership share in the company. DokuMentori Oy's net sales in 2004 amounted to EUR 4 million and operating profit to EUR 0,4 million. Within the past three years DokuMentori Oy's net sales has annually grown 30 % on average and the annual profitability has been approximately on a 10 % level. DokuMentori Oy's total assets at 31 December 2004 stood at EUR 1,52 million. Technical documentation is an essential part of the industrial design services Etteplan provides. After the transaction the companies are together able to supply their customers comprehensive design and technical documentation services. As a consequence of the provided added value for the customers the market value of both companies is expected to improve. Etteplan Oyj is a profitably growing international engineering design company which supplies high-quality design services for the production and product development processes of industrial technology. The core areas of expertise are mechanical engineering and automation design as well as software development, electronics design and EMC-services. In 2004, turnover of Etteplan Group was 62 MEUR. At the moment the company employs more than 1200 persons in Finland, Sweden, Germany, Italy and China. For more information, please visit www.etteplan.com. Hollola, 3 October, 2005 Etteplan Oyj Board of Directors For additional information, contact: Etteplan Oyj, CEO Heikki Hornborg, tel. +358 400 873 063, Executive Vice President Jukka Rausti, tel. +358 400 612 463 or DokuMentori Oy, Managing Director Raimo Kivioja, tel. +358 40 747 6514. DISTRIBUTION: Helsinki Exchanges Principal media www.etteplan.com