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.
INCAP IN BRIEF
Incap Corporation is an internationally operating contract manufacturer whose comprehensive services cover the entire life-cycle of electromechanical products from design and manufacture to after-sales services. Incapís 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 and India. The Groupís revenue in 2008 amounted to EUR 94 million and the company currently employs approximately 770 people. Incapís share is listed on the NASDAQ OMX Helsinki. Additional information: www.incap.fi.
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