INCAP PLANS CLOSING DOWN THE VUOKATTI FACTORY AND TRANSFERRING THE PRODUCTION TO ESTONIA
(Thomson Reuters ONE) - Incap CorporationStock exchange release4 February 2010 at 9 a.m.INCAP PLANS CLOSING DOWN THE VUOKATTI FACTORY AND TRANSFERRING THE PRODUCTION TOESTONIASince last autumn Incap has been investigated possibilities to concentrate itsEuropean electronics manufacturing in Estonia. As one alternative, it has beenexamined whether a third party could be found to continue running a part of thebusiness in Vuokatti.Since negotiations concerning eventual business transaction of the Vuokattifactory have so far been concluded with no results, the company plans totransfer the production to Estonia during the year 2010. Concentration ofelectronics manufacturing into one unit in Europe is a part of the restructuringof production according to company strategy, and it will improve efficiency ofoperations and bring savings of approximately EUR 3 million in 2011.As the planned restructuring of operations can lead to the closing down of theVuokatti factory, Incap has today started cooperation negotiations, which mayinclude eventual redundancies of approximately 130 employees.INCAP CORPORATIONSami Mykk?nPresident and CEOFurther information:Sami Mykk?n, President and CEO, Tel.+358 40 559 9047Eeva Vaajoensuu, CFO, Tel. +358 40 763 6570Hannele P?, Director, Communications and HR, Tel.+358 40 504 8296DISTRIBUTIONNASDAQ OMX Helsinki LtdPrincipal mediawww.incap.fiINCAP IN BRIEFIncap Corporation is an internationally operating contract manufacturer whosecomprehensive services cover the entire life-cycle of electromechanical productsfrom design and manufacture to after-sales services. Incap's customers includeleading equipment suppliers in energy efficiency and well-being technologies,for which the company produces competitiveness as a strategic partner. Incap hasoperations in Finland, Estonia and India. The Group's revenue in 2008 amountedto EUR 94 million and the company currently employs approximately 770 people.Incap's share is listed on the NASDAQ OMX Helsinki. Additional information:www.incap.fi.[HUG#1380459]
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Datum: 04.02.2010 - 02:03 Uhr
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