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Elektrobit Group Oyj - Jorma Terentejeff's celebration speech in the opening ceremonies of JOT Automation Group Plc facilities February 10, 2000

February 10, 2000

Jorma Terentejeff's celebration speech in the opening ceremonies of JOT Automation Group Plc facilities February 10, 2000

Change has become a part of business operation in the electronics industry. Change is continuous, and it is constantly becoming more rapid. Years become months and months become weeks.

Technologies change quicker than they did before. Breakthroughs in technology follow each other faster and faster. At the same time markets become global, and this is immediately reflected at the company and unit level. The working environment and field of operation is genuinely international.

Globalization and global transfer of information has broken down the borders between countries. This change has nearly erased individual countries' possibilities of protecting their markets. Technologies are available to everyone.

At times the rapidly changing environment and global operation place unbelievable challenges before companies. Quickness to exploit new technologies, boldness to apply new technologies, the capacity to commercialize new technologies. From the standpoint of business operation this tests a company's capacity to take ever larger risks and control them. In the end, however, whether or not a company's employees are able to develop themselves and function efficiently in the midst of continuous change is the factor that proves to be instrumental. In this sense we have been lucky. Our employees have met the challenges of growth excellently.

A company has to understand its customers and the present needs of those customers. It especially needs to visualize tomorrow's needs. On this basis it is possible for the company to discover innovative, superior product concepts. Information helps in creating service concepts that function both globally and locally.

We are operating in a very rapidly growing field where even over 50 % annual growth is not unusual. Therefore, the business idea needs to be updated nearly every month. The main problem with rapid growth is that there are no models - they have to be created.

JOT Automation's operating model has developed in a short time from a device supplier to a system supplier. It is more strongly moving toward becoming a capacity supplier, and then an operating partner whose operation includes control of distribution chains. A big step in this direction was publicized today, when we announced our cooperative effort with Swisslog AG.

Electronic trade has brought a significant change to already fast-moving production. Now the electronics industry can literally operate on the customers' terms. A product user anywhere in the world can specify what kind of product variation he wants, whenever he wants it. He expects to receive a personalized product not only quickly, but at the price of a serially produced product. To realize this, an automated plant is not enough. Arriving materials and departing product have to part of the same system.

Our customers and at the same time we ourselves are living a rapidly cycling life where goals of volume, rapid shutdowns and global distribution logistics must be controlled as a whole.

In this globally rapidly changing environment a strong brand is the strongest factor of success. Strong brands win and they have behind them a demand for strong commercial brands. Above all, for the customer a strong automation supplier means risk control. The customer can focus his resources on marketing his own products and leave the technological solutions up to his partner. JOT has attained a highly esteemed status in this field of industry, and this is a good foundation on which to build an even more diversified company brand. Its core is within ourselves, but its support is indispensable when we meet new customers and market areas.

JOT's values are based on the development of customers', employees', owners', interest groups' and society's well-being. I wish to thank all of you, and especially our own employees, for your very fruitful cooperation.

I hope that more and more often we can learn to view continuous change as a challenge that holds opportunities above all.

Oulunsalo, February 10, 2000

JOT Automation Group Plc
The Board of Directors

Jorma Terentjeff
President, CEO