INCAP TO START COOOPERATION NEGOTIATIONS IN FINLAND

Incap Corporation   Stock Exchange Release   5 October 2009, 2 p.m.
 

Incap Corporation has today summoned negotiations in accordance with the Cooperation Act with its personnel in Finland. The target of the negotiations is to restructure operations and gain savings in costs. This is estimated to mean temporary layoffs for a maximum duration of 90 days due to production and financial reasons.

 
Incap employs in Finland a total of 336 persons, of which 89 white-collar and 247 blue-collar workers. The Group’s foreign subsidiaries employ 439 persons.
 
The previous estimate for result and revenue in 2009, as given in the interim report on 5 August 2009, is unchanged. The interim report for January-September will be published on 4 November 2009.
 
INCAP CORPORATION
 
Sami Mykkänen
President and CEO
 
Further information:
Sami Mykkänen, President and CEO, Tel. +358 40 559 9047
Eeva Vaajoensuu, CFO, Tel. +358 40 763 6570
Hannele Pöllä, Director, Communications and HR, Tel. +358 40 504 8296
 
DISTRIBUTION
Nasdaq OMX Helsinki Ltd.
Principal media
 
 
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 are leading equipment suppliers in energy efficiency and well-being technology, for which the company produces new competitiveness as a strategic partner. Incap has operations in Finland, Estonia and India. The Group’s revenue in 2008 amounted to around EUR 94 million, and the company currently employs approximately 770 people. Incap’s shares are listed on the NASDAQ OMX Helsinki. For additional information, please visit our website, www.incap.fi.