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Incap Oyj (HEL:ICP1V) Incap Corporation Stock Exchange Release 26 August 2008, at 9:00 a.m.
Because of decreased demand for telecommunications products, Incap Corporation has today summoned negotiations in accordance with the Cooperation Act at its Vuokatti plant. The negotiations concern all of the plant's employees and officials.
Any actions to be agreed upon in the negotiations will concern eventual restructuring and the eventual respective measures may result in temporary layoffs, the change of employment contracts to part-time contracts as well as the termination of employment contracts due to production and financial reasons.
The eventual actions to be agreed upon in the negotiations refer to a maximum of 80 persons. At the moment, the Vuokatti plant employs 174 people.
The predicted decrease in the demand for telecommunications products manufactured at the Vuokatti plant is now being realised. According to its recently revised strategy, Incap will develop its services particularly for customers of energy efficiency and well-being technology. In order to improve the efficiency of its service capacity, Incap will differentiate the roles of its plants, and the target is to focus the operations of the Vuokatti plant on the new product introcution (NPI), prototype operations and manufacture, testing and design for testing of technically demanding products.
INCAP CORPORATION
Sami Mykkänen President and CEO
Additional information: Sami Mykkänen, President and CEO, tel. +358 40 559 9047 Eeva Vaajoensuu, CFO, tel. +358 40 763 6570 Hannele Pöllä, Director, Communications and Investor Relations, tel. +358 40 504 8296
DISTRIBUTION OMX Nordic Exchange Helsinki 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 include leading equipment suppliers in the energy efficiency and well-being technologies for which the company produces new competitiveness as a strategic partner. Incap has operations in Finland, Estonia and India. The Group's revenue in 2007 amounted to EUR 83 million and the company currently employs approximately 730 people. Incap's share is listed on the OMX Nordic Exchange Helsinki. Additional information: www.incap.fi.
