WULFF-GROUP PLC STOCK EXCHANGE RELEASE JULY 1, 2008, AT 2.00 PM
ENTRE MARKETING, SUBSIDIARY OF WULFF-GROUP PLC, TO SELL ITS PRODUCTION
Entre Marketing Ltd, a subsidiary of Wulff-Group Plc, has today decided on a
business transfer of its production unit to Silver Zombie Ltd. This solution
enables Entre to grow profitably in accordance with its strategy and adds to its
competitive capabilities. According to the agreement, 12 employees in Entre
Marketing’s production unit will transfer to Silver Zombie. The employees will
start at Silver Zombie on Thursday July 3rd, 2008 as old employees.
Entre Marketing initated in mid-June a plan of action regarding its personnel in
order to achieve its financial and strategic goals. Entre Marketing Ltd’s net
sales account for some 10% of Wulff-Group’s consolidated net sales. The
company’s operations have had negative profitability in 2007 and during 2008.
The focus of Entre Marketing Ltd is on the design and implementation of
international and domestic trade fairs, exhibitions, and event marketing. Entre
is the market leader in Finland in its sector. In 2007, Entre had activities in
32 countries, preparing 740 stands for a variety of events. Wulff-Group Plc
acquired in May 2007 a majority shareholding in Entre Marketing Ltd, previously
owned by Finpro ry and the key personnel of the Entre group. Entre Marketing Ltd
employs 45 people at the moment.
Wulff-Group Plc is an office products market leader in Finland. It sells and
markets office supplies, computer accessories, corporate image products,
ergonomic products, and trade fair and event marketing services. Wulff’s
long-term objective is to become also the Nordic market leader in its sector.
The Group has more than 70,000 customers and more than 400 employees, of which
nearly 70% are sales personnel. Wulff-Group recorded in 2007 net sales of EUR
74.1 million, operating profit of EUR 5.4 million, and net profit of EUR 3.0
Silver Zombie Ltd is a leading Finnish event producer. In 2007, Silver Zombie
had a turnover of 865 thousand euros and employed 10 people. In 2008, Silver
Zombie’s turnover is expected to double to 1,7 million euros.
Heikki Vienola, CEO
Tel. +358 9 5259 0050 or +358 50 65 110
OMX Nordic Exchange Helsinki