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Vacon Oyj (HEL:VAC1V) Vacon Strengthens Foothold In Denmark

Vacon Oyj (HEL:VAC1V) Vacon Group, Press release, 3 December 2008, at 11 a.m.

The global AC drives manufacturer Vacon will establish a subsidiary in Denmark to further strengthen its foothold in the country. Vacon has been represented in Denmark for several years through its local distributor Eegholm A/S, and cooperation will continue also in the future.

"Vacon's strategy is to continuously strengthen the company's global presence and to be close to the customers wherever they operate. We have been very pleased with our long-term distributor Eegholm and their excellent work in promoting the Vacon brand in Denmark. However, there is still room for growth for Vacon in the Danish market, and that is why we are establishing a subsidiary of our own in the country. This is in line with Vacon's strategy of investing in markets with a good growth potential," says Heikki Hiltunen, Executive Vice President, Vacon.

"Our cooperation with Eegholm will continue in good spirit, especially in the field of switchgear solutions. By establishing a subsidiary of our own we want to expand into areas which can be difficult for a distributor to reach. Our main segments in Denmark will be machine building, marine and offshore, HVAC, energy and water and wastewater," says Thomas Thörewik, Managing Director of Vacon Drives A/S, Vacon's subsidiary in Denmark.

"Our customers will benefit from Vacon's cross-border cooperation as Vacon Drives A/S will be supported by their skilled colleagues in Sweden," continues Thörewik, who is also Managing Director of Vacon AB, Vacon's subsidiary in Sweden.

Vacon's subsidiary in Denmark will start operations on 1 January 2009, and in the beginning, the company will employ four former Eegholm employees. Vacon's Denmark office will be located in Sønderborg.

Vacon Group

Further information: * Heikki Hiltunen, Executive Vice President, Products and Markets, Vacon Group, mobile +358 (0)40 8371 609 * Thomas Thörewik, Managing Director, Vacon Drives A/S and Vacon AB, mobile +46(0)708296522

Press contact: * Sebastian Linko, Director, Corporate Communications, Vacon Group, mobile +358 (0)40 8371 634

Vacon in brief: Vacon was established in 1993 from a passion to develop and produce AC drives globally. It is a matter of honour for Vacon to offer customers efficient, reliable and easy to use means for improving process control and saving energy and costs. Vacon's solutions represent clean technology. They can be used to control the speed of electric motors used by industry and municipal engineering, and in power generation using renewable energy. Vacon provides AC drives in the power range 0.25 kW - 5 MW. Revenues in 2007 totalled EUR 232.2 million.
www.vacon.com

Eegholm A/S in brief: Eegholm a/s is a modern component supplier and manufacturer. Eegholm supplies products and solutions which can operate, control or monitor electric and mechanical systems. Eegholm supplies individual customer solutions across their six strong business areas.

www.eegholm.dk

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Vacon Oyj

http://www.vacon.com

ISIN: FI0009009567

Stock Identifier: XHEL.VAC

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Vacon Oyj

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