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2016-04-04

ELTEL: Eltel's rail and road business buys Celer Oy - a signalling services company in Finland

Eltel is expanding its railway signalling services business further
and acquires Celer Oy, a Finnish signalling services company. Celer
is a well recognised player in the Finnish railway market with an
important market position providing railway signalling services.

Eltel entered the Finnish rail market already in the 1960's. Since
then Eltel has successfully been able to capitalize on the growing
market. To meet the growing customer demand Eltel has decided to
enhance its competences and resources in the signalling and safety
segment also in Finland. The acquisition of Celer Oy is complementary
to Eltel's current offering in Finland and provides clear synergies
with its existing rail and road business of Eltel. This acquisition
further expands Eltel's Nordic footprint in the signalling market as
a complement to the acquisition of Vete Signaltjenester AS in Norway
made in October 2015.

Celer Oy is one of the key players in the signalling sector for the
railway market in Finland with a turnover of approximately EUR 6
million covering the whole Finnish market. Celer has 29 employees
with highly specialized signalling and safety competences. The
acquisition of 100% of the company was signed and closed on 1 April
2016.

The product offering of Celer comprises new installations, corrective
and preventive maintenance, project management, engineering and
design services. Celer's customers include the owner of the Finnish
railway infrastructure - Liikennevirasto (Finnish Transport Agency) -
the Helsinki Metro and various signalling system suppliers and
construction companies. For the coming years, Liikennevirasto has
announced high investment needs and plans in Finland including major
needs for investments in railway signalling systems.

Fredrik Häggström, President - Rail & Road at Eltel AB comments:
"This acquisition of Celer Oy is a great step forward for Eltel and is
very much aligned with our strategic plan to expand in the Finnish
market. Our customers have extensive investment plans and there are
increasing needs to ensure sufficient competences and resources
within this sector. Through this acquisition of Celer Oy, Eltel can
scale up its Finnish business and further develop cross border
co-operation between our Eltel entities to be able to meet the needs
of our customers. We welcome all employees of Celer Oy to join
Eltel".

Tero Palosaari, CEO of Celer Oy comments:
"Celer Oy has grown to be the size where we consider being part of a
larger group will further boost the development of our business and
our employees. After careful consideration, we came to the conclusion
that Eltel would perfectly fulfil these expectations and we are very
happy to make this announcement today. I will continue as manager for
the signalling services segment in Eltel's rail and road business in
Finland".

This information is published by Eltel AB pursuant to the requirements
of the Swedish Securities Market Act (Sw: Lag om
värdepappersmarknaden).

For more information, please contact
Ingela Ulfves
VP - IR and Group Communications
Tel: +358 40 311 3009, ingela.ulfves@eltelnetworks.com

Hannu Tynkkynen
Director - Group External Communications and Sustainability
Tel: +358 40 311 4503, hannu.tynkkynen@eltelnetworks.com

About Eltel
Eltel is a leading European provider of technical services for
critical infrastructure networks - Infranets - in the segments of
Power, Communication and Transport & Security, with operations
throughout the Nordic and Baltic regions, Poland, Germany, the United
Kingdom and Africa. Eltel provides a broad and integrated range of
services, spanning from maintenance and upgrade services to project
deliveries. Eltel has a diverse contract portfolio and a loyal and
growing customer base of large network owners. In 2015 Eltel net
sales amounted to EUR 1,255 million. The current number of employees
is approximately 9,600. Since February 2015, Eltel AB is listed on
Nasdaq Stockholm.

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http://news.cision.com/eltel/r/eltel-s-rail-and-road-business-buys-celer...
http://mb.cision.com/Main/11435/9948114/495788.pdf

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