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Vacon Oyj (HEL:VAC1V) Vacon Opens Subsidiary In South Korea

Vacon Oyj (HEL:VAC1V) Vacon Group, Press release, 8 January 2009

The global AC drives manufacturer Vacon has established a subsidiary in Seoul, South Korea. The new subsidiary, which started operations on 1 January 2009, will serve distributors and partners in the East Asian market. Vacon's goal is to increase its market share in the region.

"Establishing a subsidiary in South Korea is a part of our global strategy and profitable growth programme. Within the framework of this programme, we have been increasing the number of Vacon offices globally in the recent years. This allows us to offer the best possible service and to find new partners," says Heikki Hiltunen, Executive Vice President, Vacon.

The new subsidiary will give Vacon possibilities to win even more significant shares of the East Asian markets and to further improve our support to our distributors and partners in the region.

"Vacon has for many years been partnering with a local brand label customer and with several local distributors, and the partnerships with them will continue in the future. Our goal is to support our present partners and expanding our business in cooperation with them in East Asia," says Jae Kyu Lee, Managing Director of Vacon's South Korea subsidiary.

"Local presence also provides us with better opportunities to conquer new markets e.g. among OEM customers, who require highly advanced AC drives knowhow. Our main segments in South Korea will be the marine and offshore industry, cranes and the metal and chemical industries," says Mr Lee.

With a population of more than 10 million, Seoul is one of the world's top financial and commercial centers, making local presence important for Vacon.

Vacon Group

Further information: * Heikki Hiltunen, Executive Vice President, Products and Markets, Vacon Group, mobile +358 (0)40 8371 609

Press contact: * Sebastian Linko, Director, Corporate Communications, Vacon Group, mobile +358 (0)40 8371 634, email sebastian.linko@vacon.com

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

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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