Finland's Cencorp to buy Avery Dennison unit

HELSINKI Tue Aug 21, 2012 3:12am EDT

HELSINKI Aug 21 (Reuters) - Finnish industrial automation company Cencorp is to buy a business making conductive back sheets for solar power cells from U.S. company Avery Dennison for $500,000 and 6.7 million Cencorp shares.

Cencorp said higher costs meant it would likely post a loss for the full year rather than a profit as it had previously expected, but aims to improve profitability in the long term under a new strategy of devloping new business areas outside automation. $1=0.8103 euros)

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