Incap is adjusting its manpower in Estonia according to demand

Incap Corporation                                
Stock Exchange Release    7 November  2013 at 2.30 p.m. (EET)                                                                                 

INCAP IS ADJUSTING ITS MANPOWER IN ESTONIA ACCORDING TO DEMAND

As part of Incap Corporation’s turnaround program the company is reducing the manpower in its operations in Estonia. The respective negotiations with personnel in line with the Estonian legislation have today ended.  In the factory in Kuressaare and in the office in Tallinn, job contracts of a total of 75 persons have been terminated. Most of the employment contracts will end during December 2013.

The overall strategy in the company’s turnaround program is to focus on core business. The customer relationships are strengthened by special attention to the improvement of delivery accuracy and to the enhancement of efficiency both in production and supporting functions. Production capacity and organisation are adapted according to demand, and actions to increase the productivity are implemented in all factories.

INCAP CORPORATION

Fredrik Berghel
President and CEO

Additional information:
Susanna Pyykkö, HR Manager, tel. +358 40 143 3957
Fredrik Berghel, President and CEO, tel. +46 73 202 2210
Hannele Pöllä, Director, Communications and IR, tel. +358 40 504 8296

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
www.incap.fi

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 competitiveness as a strategic partner. Incap has operations in Finland, Estonia, India and China. The Group’s revenue in 2012 amounted to EUR 64.1 million, and the company currently employs approximately 570 people. Incap’s share is listed on the NASDAQ OMX Helsinki. Additional information: www.incap.fi.