SOLOTOP OUTSOURCES ITS SCALES PRODUCTION TO INCAP

Press release, 11 February 2003

 
Solotop Oy and Incap Corporation have signed a co-operative agreement by which Solotop outsources its scales production to Incap’s Helsinki Unit. The agreement covers the manufacturing, assembly and testing of scales for retail trade, health care and other purposes.
 
The relocation of production will be started immediately, and the goal is to deliver the first scales from Incap in April. The personnel in scales production at Solotop will be offered employment at Incap.
 
Incap provides comprehensive deliveries, which include both electronic and mechanical manufacturing and assembly. “The agreement with Solotop is in line with our full-service strategy. Their products are extremely well suited to our production structure, and the additional volume will have a positive effect on profitability. Solotop scales have an established position in the market, and we believe that the demand for them will continue to grow,” says Seppo Ropponen, President and CEO for Incap.
 
According to Timo Tammisto, President for Solotop Oy, the decision to outsource the production of scales was considered carefully. “The outsourcing of production will guarantee effective and up-to-date manufacturing and an ability to respond quickly to increasing demand. Incap’s experience and references as a manufacturer of high-quality products were convincing. Especially in the case of hospital scales, it is important that the quality assurance systems are compatible with the EU directives, and this was one factor that spoke in favour of partnership with Incap. The discussions were easy, and they were able to make quickly the necessary decisions.” Timo Tammisto points out that Solotop will now concentrate exclusively on product development and marketing.
 
 
 
SOLOTOP OY           INCAP CORPORATION
 
Timo Tammisto        Seppo Ropponen
President            President and CEO
 
 
Solotop Oy was established in 1996 to continue the business of Instru Vaaka Oy. The company sells equipment and appliances for food industry and retail trade and provides related maintenance services. In addition to its own trademarks, Solotop imports several internationally known products. The company’s market share of the scales sold in Finland is nearly 50 %, and it exports scales into more than 20 countries. Solotop’s net turnover in 2001 was EUR 6 million, and the company employs 40 people. For further information about the company and its products, see www.solotop.fi.
 
Incap Corporation provides to the leading suppliers of electronic and electric appliances flexible and first-rate services that integrate its diverse electronic and mechanical expertise. The services include design, manufacturing, final assembly, testing, material management and delivery of products to end customers. Apart from manufacturing services, the company has special expertise in RF technologies, which is applied specifically to components for wireless communication networks.
 
Incap’s production units are located in Helsinki, Kempele, Ruukki, Vaasa and Vuokatti as well as in Kuressaare, Estonia. The company’s pro forma net turnover in January-September 2002 was EUR 47.1 million, and it employed about 610 people. Incap Corporation is listed on the Helsinki Exchanges I-list (HEX: INC). For further information about the company and its services, see www.incap.fi.