INCAP ABLE TO OFFER HIGH-QUALITY SERVICES ALSO IN THE ASIAN MARKET
In order to strengthen its services to the globally operating customers and to gain foothold in the growing markets of Asia, Incap acquired the electronics contract manufacturing unit in Tumkur last May. Currently over 220 people employing unit is specialised in manufacturing electronic components and box-build products. There are power supplies and medical electronics among others manufactured in the unit.
Many of Incap’s global customers have already started operations in India and have expressed interest in Incap’s local contract manufacturing services. Incap estimates to receive 6 million euros revenue for Indian operations in June-December 2007. The target is to gain over 40 million euros revenue in the Asian markets by 2010.
“India has a great role in our internationalisation strategy. Now we can offer our customers local cooperation in the regions where the market and demand are growing vigorously. Our target is to grow significantly exceeding the average industry growth. Even if India will be important part of Incap’s strong future growth, we are at the same time maintaining and strengthening our current position in Europe”, said President and CEO of Incap Corporation, Juhani Hanninen.
Incap organised a Stakeholder Event on Thursday, 20 September 2007 in Bangalore. The seminar was inaugurated by Ambassador of Finland to India, Asko Numminen. Gopal Srinivasan, Chairman of Confederation of Indian Industry, presented the current development and outlook of the Indian economy and industry. He explained e.g. the measures taken in order to advance the economic growth of India.
Incap’s customers, ABB and Kone Elevator India Pvt. Ltd. also presented their operations in the area and described their expectations for a contract manufacturing partner in the Asian markets. Mr A. Sankarakrishnan, Managing Director of Kone Elevator India Pvt. Ltd. greeted with joy Incap’s arrival to India. He said that Kone needs a reliable contract manufacturer such as Incap for the Asian markets and believes that there is scope for wide cooperation. Mr Saji S, Assistant Vice President of ABB Ltd. mentioned that the most important features for a contract manufacturer are delivery reliability, quality and competitive prices. Guests also visited Tumkur factory, where a new Fuji-line was inaugurated.
Incap’s target is to invest strongly into Tumkur factory and a new assembly line installed in August will increase significantly production effectiveness. As a part of the contract signed with TVS Electronics a new factory building will be built by TVS Electronics to Incap where the current production with its equipment will be transferred. New factory building will also enable production expansion in the future.
For additional information, please contact:
Mr Juhani Hanninen, President and CEO, tel. +358 50 556 7199
Ms Hannele Pöllä, Director, Communications and Investor Relations, tel. +358 40 504 8296
Helsinki Stock Exchange
INCAP IN BRIEF
Incap Corporation is a fast-growing electronics contract manufacturer whose comprehensive service covers the entire product life cycle from design and manufacture to repair and maintenance services. The company’s main customers are leading equipment suppliers in telecommunications, electrical power technology, the automation and process industries as well as measurement technology, security electronics and health care. The Incap Group’s revenue amounted 2006 to EUR 89 million and the company currently employs approx. 750 persons. Incap’s share is listed on the Helsinki Stock Exchange and it is a component of the Nordic Small Cap list within the information technology sector. For additional information, please visit www.incap.fi