I3TEX AB HAS APPLIED FOR CORPORATE RESTRUCTURING
Stock exchange release – Published: 21.06.2011 18:00:00
ETTEPLAN OYJ, STOCK EXCHANGE RELEASE, JUNE 21, 2011, AT 06.00 P.M.
I3Tex AB which provides design services for automotive industry has filed an application for corporate restructuring to Gothenburg’s district court today. Etteplan’s holding in I3Tex AB is 19.9 per cent. The reason for applying for corporate restructuring is financial difficulties of some of the company’s customers. Cool Engineering AB, a fully owned subsidiary of Etteplan, is one of the I3Tex AB creditors.
If materialized the corporate restructuring of I3Tex does not have impact on the estimates Etteplan Oyj has published for outlook 2011. Etteplan Oyj keeps its estimate for outlook 2011.
Hollola, June 21, 2011
Etteplan Oyj
Group Communications
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 2010, Etteplan had turnover of EUR 104.8 million. The company currently has approximately 1, 600 employees. Etteplan’s shares are listed on NASDAQ OMX Helsinki Ltd under the ETT1V ticker.
