INCAP IS ADJUSTING ITS OPERATIONS TO THE DECREASING DEMAND

Co-operative negotiations at the Vuokatti unit of Incap Electronics have been concluded. To adopt the operations to the decreasing market demand both cost savings and cuts in personnel will be necessary. Therefore, 16 workers of the Vuokatti unit will be laid off permanently and 23 temporarily, and all administrative employees serving the Vuokatti unit only will be laid off for 5 weeks in 2002. Reductions will affect a smaller number of personnel than estimated at the time when negotiations were launched.

At the Helsinki unit, besides flexible working hours personnel cuts are necessary. The co-operative negotiations that were begun at the Helsinki unit last Monday concern lay-offs of 10 persons.

At the Vaasa unit, negotiations are under way concerning about 15 persons.

Espoo, 13 December 2001

INCAP CORPORATION


Kari Saarinen
President and CEO

Further information:
President Kari Saarinen, tel. +358 40 830 5689



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