INCAP UPDATES ITS PROFIT FORECAST AND STARTS EMPLOYEE NEGOTIATIONS AT VUOKATTI UNIT
Stock Exchange Release 26 October 2001 at 2 pm
Remarkable decrease in demand for electronic manufacturing services during July-September will affect the profit of Incap Electronics, and the profit for the year will stay behind the previously estimated level. As the profit development of Incap Furniture, however, has been more positive than expected, the Incap Group’s profit for the year 2001 is estimated to be distinctly higher than in 2000. The Group’s interim report for January-September will be published on 6 November, 2001.
In order to adopt the operations to the weakening demand Incap Electronics Ltd has started employee negotiations at its Vuokatti plant. Eventual lay-offs or reductions of personnel will affect about 50 persons.
At the company’s plant in Vaasa, adjusting measures affecting 9 persons have already earlier been decided of.
Espoo, 26 October 2001
President and CEO
Kari Saarinen, President and CEO, tel +358 40 830 5689
Eija Jansson-Tervonen, Vice President, Finance & Administration, tel +358 40 557 5749