Uutechnic Group Lowers its Estimate for the Operat

Helsinki, Finland, 2016-11-23 14:15 CET (GLOBE NEWSWIRE) -- PLC UUTECHNIC GROUP OYJ STOCK EXCHANGE RELEASE 23.11.2016 at 15:15

Uutechnic Group Lowers its Estimate for the Operating Profit for 2016

Uutechnic Group estimates its operating profit for the year 2016 to be lower than previously announced due to lower than expected result of a major AP-Tela Oy’s project. The Impact of the project to other manufacturing has also been significant. The project will be delivered to the customer as agreed despite the challenges in manufacturing of a new product.

Uutechnic Group estimates that the impact of the project will reduce Group's operating profit by approx. 0.8 million euros and turn AP-Tela Oy’s operating result to negative. Previously Uutechnic Group announced Group’s operating profit to be approx. 2.2 - 2.4. Million euros. Uutechnic Group is still estimating that the operating profit of the other subsidiaries will be positive and Group's turnover will be over 35.0 million euros.

In Uusikaupunki November 23, 2016

PLC UUTECHNIC GROUP OYJ

Board of Directors

Uutechnic Group is focused on improving the competitiveness of its customers by providing them with advanced equipment technology and unique service concept worldwide. The product range includes agitators, different types of pressure vessels, process- and storage tanks, reactors and heat exchangers. Also different types of long welded and machined axially symmetrical parts as rolls, cylinders, tubes and cones.

The main industries are hydrometallurgy, mining-, pulp and paper-, food-, fertilizer-, other chemical industries and environmental technology.

Plc Uutechnic Group’s subsidiaries are AP-Tela Oy, Japrotek Oy Ab, Uutechnic Oy and Stelzer Rührtechnik International GmbH.

         Further information:                    Martti Heikkilä, CEO, Plc Uutechnic Group Oyj +358 40 543 1324