INCAP SELLS ALUMINIUM MACHINING AND PLATING OPERATIONS TO RUUKKICOMP COMPANIES

Incap Corporation and RuukkiComp Oy, a company to be established, have today signed an agreement on the sale and transfer of Incap’s machining and plating business operations to RuukkiComp companies on 15 April 2005. The deal includes Incap’s machining and plating operations in Kempele and Ruukki. The parties have agreed not to disclose the value of the deal. The turnover of the operations being sold is less than 10% of Incap Corporation’s total turnover.

 
RuukkiComp companies plan to continue the machining and plating operations in the present leased premises in Ruukki Business Park, to which the machining operations in Kempele will also be moved.
Incap’s machining and plating divisions employ today a total of 69 persons, who will be taken over to RuukkiComp companies as previously-employed persons.
 
Incap and RuukkiComp companies have further agreed upon a broadly-based cooperation, which ensures the availability of machining and plating services for Incap’s customers also in future.
 
Juhani Hanninen, President and CEO of Incap, voiced his pleasure at the recently signed agreement. “We have found a company that will continue our machining and plating operations and that has an excellent opportunity to further develop the operations with the help of a larger customer base. Thanks to this deal, the services for our customers will continue uninterrupted run by the skilled employees in these operations.”
 
RuukkiComp companies are closely connected to MariCap Oy, which is part of an enterprise group with a turnover of approximately 80 million euros in 2004. The group currently employs over 400 persons and it has operations in 12 countries in 21 locations. Further information: www.maricap.com.
 
INCAP CORPORATION
 
Juhani Hanninen
President and CEO