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Exel Oyj Strategic acquisition in pultrusion: Pacific Composites

Exel Oyj Strategic acquisition in pultrusion: Pacific Composites. 27.2.2006. Company profile Pacific Composites’ factories Technology & markets Profiles & applications Pacific Composites’ financials Impact on Exel’s financials Impact on Exel’s operations. Content of the presentation.

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Exel Oyj Strategic acquisition in pultrusion: Pacific Composites

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  1. Exel OyjStrategic acquisition in pultrusion: Pacific Composites 27.2.2006

  2. Company profile Pacific Composites’ factories Technology & markets Profiles & applications Pacific Composites’ financials Impact on Exel’s financials Impact on Exel’s operations Content of the presentation

  3. Largest pultruder in Australia, Pacific and UK Pioneer in pultrusion in Australia, est. on the 1960’s, a subsidiary of the publicly listed Lemarne Corporation Limited Offices & manufacturing sites Australia, in Melbourne and Brisbane UK, in Runcorn and Clacton, through acquisition of Fibreforce Composites Ltd, the largest pultruder in UK, in 1992 China, in Nanjing, started in 2005 1. Company profile

  4. Shenzhen, China, 2006 2.Exel offices and sites Piteå, Sweden Kivara Mäntyharju Voerde, Germany Oudenaarde, Belgium Vantaa Rohrdorf, Germany Sales office and production unit Munguia, Spain Bekaert subcontracting Düsseldorf, Germany Sales office Kapfenberg, Austria

  5. 2. Pacific Composites’ sites

  6. Technology base: pultrusion process and prepreg moulding Main business areas/markets Aerospace & Military Transportation Telecommunication Building & Construction Mining Marine Wind Energy 3.Technology & markets

  7. Conduit rods used in telecom Cable ladders Handrails Components used in wind blades Telescopic tubing Antenna radomes Specialised piping/tubes 4. Profiles & applications (examples)

  8. Profiles & Applications

  9. Profiles & Applications

  10. Profiles & Applications

  11. Net sales from July 2004 to June 2005 were EUR 19.8 million Net sales from July 2005 to December 2005 were EUR 12.0 million, up 25% from H2/2004 Profit before taxes 2004/2005 was EUR 1.8 million, profit before taxes H2/2005 was EUR 1.4 million 150 employees The price of the acquisition is EUR 17.5 million in cash plus 230 thousandnew Exel shares for the value of EUR 2.8 million (authorization given in AGM 2005) 5. Pacific Composites’ financials

  12. Preliminary pro forma figures 2005 Net sales 2005 EUR 114 million EBT 2005 EUR 14.5 million 12.7% of net sales Pacific Composites’ operations will be joined into Exel Group as of 1st March 2006 Expected EBIT impact of EUR 3.0 million on Exel Group level after the restructuring process in 2006 In the long run in line with Exel’s normal growth and profitability targets 6. Impact on Exel’s financials

  13. Major strategic step to expand Exel’s operations in Asian market and to serve our customers on a world-wide basis The investment project of building an own factory in Shenzhen is now postponed Exel’s core business in future will be its present Industry Division with high composite technology, i.e. fibreglass and carbon-reinforced applications and profiles Exel now being an undisputable global market leader in pultrusion technology Better possibilities to continue with the consolidation process in the pultrusion market 7. Impact on Exel’s business operations

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