Bloomberg News

Cencorp Jumps on Renewable Energy Component Deal: Helsinki Mover

January 24, 2012

Jan. 23 (Bloomberg) -- Cencorp Oyj, the Finnish maker of electronic equipment, climbed the most since April 2009 in Helsinki trading as it won a 50 million-euro order ($64.7 million) to deliver components to the renewable energy industry.

The stock gained 50 percent, or 0.04 euros, to 0.12 euros at 10:35 a.m. in Helsinki today, rising to its highest in six months. The share’s trading volume was more than 25 times the three-month average.

The agreement has had a “significant” impact on the development of its 2011 outlook, the Lohja, Finland-based company said in a statement today. The share has gained 33 percent this year after falling 39 percent last year, giving it a market value of 41.1 million euros.

“We have identified renewable energy applications as one of our strategic growth areas,” Mats Eriksson, Chief Executive Officer, said in the statement. The value of the framework agreement on the delivery of flexible circuits for renewable energy solutions may exceed 50 million euros over three years, the company said.

--Editors: Kati Pohjanpalo, Christian Wienberg

To contact the reporter on this story: Kasper Viita in Helsinki at kviita1@bloomberg.net

To contact the editor responsible for this story: Christian Wienberg at cwienberg@bloomberg.net


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