Eastern European Markets

January the 8th, 2011

Incap concluded the co-operative negotiations in corporate services

In order to improve its cost structure Incap launched on 14 November 2011 negotiations in accordance with the Co-operative Act with the personnel of corporate services in Finland. The negotiations were concluded today and resulted in re-organisation of corporate services in the way that the employment of a total of 8 persons will be terminated by the end of September. Furthermore, the situation of 3 persons will be reviewed separately during 2012.

The tasks will be re-organised among others by transferring job from Finnish offices to Incap's office in Tallinn and to the factory in Kuressaare. The partial centralisation of corporate services to Estonia is inherent as the role of the Kuressaare factory is increasing through the factory expansion in summer 2012. A remarkable part of Incap's present and future customers in Europe are using the services of the Estonian factory, and therefore the focusing of the sales organisation, for example, to the Tallinn office is a viable and cost-effective solution. Also the Group's CEO, Chief Operations Officer and Director, Human Resources will move to work temporarily in the Tallinn office. The domicile of Incap Group stays in Helsinki.

The number of Incap's locations in Finland will be reduced when the functions in Vuokatti are transferred to Helsinki, Tallinn or Kuressaare. In order to cut the costs further the corporate office in Helsinki will move to the premises of the Helsinki factory by the end of March.

The co-operative negotiations concerning the operations of the Helsinki factory continue.

About Incap:
Incap Corporation is an internationally operating contract manufacturer whose comprehensive services cover the entire life-cycle of electromechanical products from design and manufacture to maintenance services. Incap's customers include leading equipment suppliers in energy efficiency and well-being technologies, for which the company produces competitiveness as a strategic partner. Incap has operations in Finland, Estonia, India and China. The Group's revenue in 2010 amounted to EUR 59.2 million, and the company currently employs approximately 760 people. Incap's share is listed on the NASDAQ OMX Helsinki. Additional information:

For more information
Sami Mykkänen, President and CEO, tel. +358 40 559 9047
Kirsi Hellsten, Director, Human Resources, tel. +358 50 387 7437
Hannele Pöllä, Director, Communications and Investor Relations, tel. +358 40 504 8296
NASDAQ OMX Helsinki Ltd.
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