Eastern European Markets

February, the 9th 2010

Incap plans closing down the Vuokatti factory and transferring the production to Estonia

Since last autumn Incap has been investigated possibilities to concentrate its European electronics manufacturing in Estonia. As one alternative, it has been examined whether a third party could be found to continue running a part of the business in Vuokatti.

Since negotiations concerning eventual business transaction of the Vuokatti factory have so far been concluded with no results, the company plans to transfer the production to Estonia during the year 2010. Concentration of electronics manufacturing into one unit in Europe is a part of the restructuring of production according to company strategy, and it will improve efficiency of operations and bring savings of approximately EUR 3 million in 2011.

As the planned restructuring of operations can lead to the closing down of the Vuokatti factory, Incap has today started cooperation negotiations, which may include eventual redundancies of approximately 130 employees.

For further information:
Sami Mykkänen, President and CEO, Tel. +358 40 559 9047
Eeva Vaajoensuu, CFO, Tel. +358 40 763 6570
Hannele Pöllä, Director, Communications and HR, Tel. +358 40 504 8296

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