INCAP’S COOPERATION NEGOTIATIONS IN FINLAND

Incap Corporation   Stock Exchange Release   27 October 2009, 3 p.m.
 

Incap convened negotiations in accordance with the Cooperation Act on 5 October 2009 in order to restructure operations and gain savings in costs. The negotiations resulted in temporary layoffs of the personnel in Finland for one week in December 2009 and one week in January 2010 due to production and financial reasons. Furthermore, the need for additional temporary layoffs of the personnel in Group services and in the Helsinki and Vaasa factories will be considered monthly as from January 2010, and the eventual layoffs will take place in February-May 2010 with the maximum total duration being 64 working days.

 
The white-collar workers in the Vuokatti factory will be laid off for three weeks by the end of January 2010. The negotiations with the blue-collar workers in Vuokatti are continued by
mid of November.
 
INCAP CORPORATION
 
Sami Mykkänen
President and CEO
 
Further information:
Sami Mykkänen, President and CEO, Tel. +358 40 559 9047
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 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.