PMJ automec has the strategic objective to enhance its strong position in the electronics production automation and testing market by investing in the development of automation solutions for semiconductor industry. Semiconductor production automation is a new business area to PMJ automec. The new generation fibre laser applications are estimated to gain a significant market share in their respective market segment. For this reason the Board of PMJ automec has decided to establish a daughter company concentrating on the sales, marketing and development of fibre laser products. The products shall be manufactured by the parent company PMJ automec.

The assets, liabilities and personnel related to the fibre laser business shall be transferred to the new daughter company. Amount of employees is 7 and they will be transferred as former employees.

Establishing a new company enables the key personnel related to the business to concentrate on the core business of the new daughter company. In order to assure the full implementation of the strategy, current CEO of PMJ automec –
Jouni Suutarinen (37) – has been nominated as the CEO of the new daughter company. Suutarinen has obtained a strong product development and marketing background in
PMJ automec group. Prior to the CEO position of PMJ automec he was responsible for the product development and technology management activities and was also a member
of the company’s management team during 2000 - 2004. As the CEO of PMJ automec Suutarinen has also continued to manage the development of the fibre laser products for semiconductor industry.

Suutarinen has achieved excellent results as the CEO of PMJ automec being able to turn the company’s business back to profitability. The EBIT of PMJ automec during the second half of year 2004 was EUR 1.9 million.

Petri Väinölä (54) has been nominated President and CEO of PMJ automec as of May 1st 2005. He also continues as a Board member. Väinölä has been a member of PMJ automec Board since 2003. During 2004 he was the chairman of the Board.
In this position he has actively participated with the company’s management to develop the company’s strategy and logistics functions, to acquire new customers and to enhance sales. Väinölä has held various managerial positions at Nokia
from 1984 to 2003 most recently as the Vice President Sourcing & Procurement APAC.

The name and business objectives of the new daughter company shall be published during the second quarter of 2005. First application based on fibre laser applications for semiconductor industry will be published in Semicon Europe Fairs in München on April 12, 2005 and deliveries of the new products shall begin during the third quarter of 2005.

PMJ automec aims to increase its net sales to over EUR 35 million in 2005. Also, the positive profitability development is set to continue. PMJ automec estimates that the operating profit will increase to over 8 percent of net sales.

PMJ automec’s annual general meeting decided on March 23, 2005 to change the company name to Cencorp Oyj. Change of the name is estimated to be registered in the trade register on March 31, 2005 from which onwards it shall be the official name of the company.



Virkkala, Finland March 24, 2005

PMJ automec Corporation

BOARD OF DIRECTORS


Further information:

Jouni Suutarinen
CEO
Tel. +358 19 6610 214