INCAP TO UPGRADE MANUFACTURING CAPACITY FOR SHEET METAL MECHANICS AT ITS HELSINKI PLANT

Incap Corporation and FINN-POWER Oy have signed a co-operation agreement for the delivery of a combination machine. FINN-POWER is to deliver to Incap’s Helsinki unit equipment combining both punching and laser cutting in the same machine. The machinery to be delivered will also include threading and forming capabilities and highly automated material handling equipment that enables unmanned production as well. The parties have agreed not to disclose the value of the deal.
 
The acquired equipment package represents the newest in machine tool technology and will significantly increase Incap’s manufacturing capacity for sheet metal mechanics. The Helsinki unit manufactures sheet metal parts and packages for such applications as meteorological equipment, metal detectors, amusement machines, weighing appliances, X-ray machines and other health care equipment. The new combination machine will increase the efficiency of manufacturing demanding products and will enable the speedy machining of complicated shapes without large investments in tools. Since the manufacturing of prototypes is also quicker, the manufacturability of new products can be improved and the actual manufacturing can be launched quicker than at present.
 
In addition to the delivery of machinery, the co-operation agreement includes a separately tailored training package, as both parties wish to ensure the most efficient use of the equipment. Moreover, the agreement includes a production launching service that guarantees the speediest possible deployment of the investment after installation.
 
The delivery of the machinery will take place in May 2005, and it is set to be in use for full-scale production by the end of June.
 
“The investment we have made will improve Incap’s competitiveness in the manufacture of sheet metal mechanics products and provide us with the opportunity to increase our deliveries of product packages containing electronics and mechanics,” states Juhani Hanninen, President and CEO of Incap. “With the new combination machine, we can manufacture demanding products quickly and efficiently, and naturally, the increase in production efficiency will also have a positive effect on profitability.”
 
“The combination machine to be delivered to Incap is a new product that represents the cutting edge of our company’s product development,” says Arto Pohto, President and CEO of FINN-POWER. “In addition to its financial significance, the co-operation agreement is also gratifying because the investment is made in Finland. In addition to the delivery of machinery, the co-operation agreement also encompasses training, production launching and maintenance services. This shows the importance of improving productivity and maintenance, two points that Finn-Power has stressed and continues to stress in its strategy.”
 
 
 
Incap Corporation is an electronics contract manufacturer whose comprehensive service covers the entire product life cycle from design to repair and maintenance services. With more than 25 years of experience, Incap is in a position to offer its customers its manufacturing know-how in electronics and mechanical engineering. The company’s main customer sectors are leading equipment suppliers in telecommunications, electrical power technology, the automation and process industries as well as measurement technology, safety electronics and health care. Incap’s shares are listed on the Helsinki Stock Exchange. For further information about the company, visit its website at: www.incap.fi.
 
FINN-POWER Oy introduced its first machine tool dedicated to sheet metal work to the market in 1983. By strongly investing in product development and international marketing, the company has become a global leader as a supplier of sheet metal machines and flexible manufacturing systems. The company owns manufacturing facilities in Finland and Italy, several sales companies around the world and a worldwide network of importers. For further information about the company, visit its website at: www.finn-power.com.