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NEWS RELEASE
September, the 21st 2010

FSP Finnish Steel Painting will launch co-operation with Cargotec in Poland

FSP Finnish Steel Painting will launch co-operation with Cargotec in Poland under a contract where FSP will be responsible for surface treatment of equipment assembled at Cargotec's unit from 1 August 2010. This contract is an important new opening for FSP in a new market.

FSP, which is currently active in Finland and Estonia, is now setting up a new country company in Northern Poland, the city of Stargard Szczecinski. Under the new contract, the companies will also expand their long-standing co-operation in Finland at such locations as Tampere and Raisio. The significance of this co-operation is increased by Cargotec's new assembly plant in Stargard, where FSP will perform surface treatment with its own equipment in Cargotec's facilities. The products of Cargotec's new assembly unit include loader cranes and container handling grabs.

"We wished to partner with FSP in Poland, as FSP has experience of surface treating our equipment, an operation which under this contract will be outsourced to FSP. We believe that FSP will also be able to offer high standard surface treatment services to our customers in other countries”, says Manager of Cargotec Poland Sp Adam Ryniak.

”This contract is also apt to show our other partners that we have been able to keep our promises and build the kind of trust that is a prerequisite for long-term partnership and international co-operation, says President of FSP Finnish Steel Painting Oy, Pentti Virtanen.

"Co-operation in Poland is a natural continuation of FSP and Cargotec's partnership at the international level. We are excited about this opening in a new market area and will make an effort to continue our internationalisation, in which we have focused on joint ventures with well-known partner companies in the engineering industry", Virtanen continues.

During the next year, FSP is planning to recruit 6-8 employees for its company in Poland. The setting for the co-operation will be Stargard in Szczeciński, which is located some 40 kilometres to the northeast of Szcezin in Western Pomerania, Poland.

www.fspcorp.com


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