EF Team Sports Becomes Exel Floorball Brands' License Holder

Exel sold its Floorball business to Cape Nordic in March 2009. The transaction included a long-term licensing agreement related to the use of the Exel brand together with other floorball brands. Exel has terminated the license agreement with Cape Nordic.
Exel Composites Plc has entered into a new license agreement of the above mentioned floorball brands with EF Team Sports Oy, who will continue the Floorball business with the brands in question as from 30 January 2010.

EF Team Sports Oy and ESB Sports Oy, the holder of Exel’s Outdoor business license, have the same main owner, Mr. Pertti Keskitalo. The Outdoor business consists mainly of poles for skiing, Nordic Walking and Nordic Blading.

“We are confident that having the same entrepreneur, Mr. Keskitalo, for Outdoor and Floorball businesses will enhance product development, coordination and international promotion of the Exel brand ”, Mr. Vesa Korpimies, President and CEO of Exel Composites, says.

“I am very pleased to bring Exel Outdoor and Floorball businesses under the same group. Exel is the leading floorball brand and we will continue to develop it further”, Mr. Pertti Keskitalo, CEO of EF Team Sports Oy and ESB Sports Oy.

The parties have agreed not to disclose the value of the agreement. The agreement is not expected to have a material impact on the result of the Exel Group.