INCAP AND POWERNET REACH AN AGREEMENT ON THE MANUFACTURE OF POWER SUPPLIES

Incap Corporation   Press release   16 December 2008 at 9 a.m.
 
Incap Corporation and Powernet Oy have signed a long-term cooperation agreement on the manufacture of power supplies. Power supplies are manufactured at Incap’s Kuressaari factory and used in a variety of electrotechnical devices for example in energy technology applications. The agreement establishes the terms of cooperation between Incap and Powernet, which commenced just over a year ago with the manufacture of a trial lot leading now to volume production. 
 
Sami Mykkänen, the President and CEO of Incap Group: “Commencement of partnership with Powernet is in line with our new strategy and demonstrates that Incap’s manufacturing services in energy and electrotechnology applications are competitive.  We believe that our cooperation with Powernet will expand further in the future when technologies promoting energy efficiency become more common.”
 
According to Jouni Pasanen, the Managing Director of Powernet Oy, Incap’s presence in India contributed to entering into the agreement because it provides Powernet with new opportunities in the future to commission the manufacture of products with larger volumes at competitive prices.  
 
Powernet is a Finnish company specialising in the design and manufacture of power supplies, battery chargers and power supply systems, with a total personnel of more than 90 employees in Äänekoski and Vantaa, Finland.
 
 
For additional information, please contact:
Sami Mykkänen, President and CEO, Incap Group, tel. +358 40 559 9047
Jouni Pasanen, Managing Director, Powernet Oy, tel. +358 40 331 4081
Hannele Pöllä, Director, Communications and Human Resources, Incap Group, tel.  +358 40 504 8296
 
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INCAP IN BRIEF
Incap Corporation is an internationally operating contract manufacturer whose comprehensive services cover the entire life-cycle of electromechanical products from design and manufacture to maintenance services. Incap’s customers include leading equipment suppliers in energy efficiency and well-being technologies, for which the company produces new competitiveness as a strategic partner. Incap has operations in Finland, Estonia and India. The Group’s revenue in 2007 amounted to EUR 83 million and the company currently employs approximately 730 people. Incap’s share is listed on the NASDAQ OMX Helsinki. Additional information: www.incap.fi.