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INCAP SELLS ITS SUBSIDIARY OPERATING IN THE MANUFACTURE OF ETCHED SHEET-METAL PRODUCTS
Incap Corporation Stock Exchange Release 16 July 2008 at 1 p.m.
Incap Corporation has today signed an agreement to sell the entire share capital of its fully-owned subsidiary Ultraprint Oy in an MBO to the operative management of the subsidiary, consisting of managing director Tuula Ylimäki and technical director Iikka Ellilä. The sale of the subsidiary does not have any remarkable effect on Incap Group's result.
The business operations were passed over to new owners on 16 July 2008. The commercial property of Ultraprint Oy stays in the possession of Incap, who will rent out the premises to Ultraprint under a separate contract.
Ultraprint Oy is located in Kempele, Finland, and it became a part of Incap Group in connection with a business transaction in 2002. The company offers chemical milling and etching for the high-precision manufacture of sheet-metal parts and manufactures also flexible PCBs. The company's revenue in 2007 amounted to about EUR 1.2 million and it has today a payroll of 12 persons.
Sami Mykkänen, President and CEO of Incap Group: "The expertise of Ultraprint Oy deviates from the other businesses of Incap and the development of the company as a separate part of the Group would have taken resources from other operations. We are now focusing our strengths to the development of our core business and the improvement of our profitability."
President and CEO
Sami Mykkänen, President and CEO, tel. +358 (0)40 559 9047
Hannele Pöllä, Director, Communications and IR, tel. +358 (0)40 504 8296
Tuula Ylimäki, Managing Director of Ultraprint Oy, tel. +358 (0)40 347 2025
OMX Nordic Exchange Helsinki
Corporate website www.incap.fi
INCAP IN BRIEF
Incap Corporation is an internationally operating contract manufacturer whose comprehensive service covers the entire product life cycle from design and manufacture to repair and maintenance services. In addition to electronics, Incap also manufactures mechanical products and parts. The company specialises in technically demanding products and product entities that are manufactured in small and medium-sized production series. Incap's main customers are leading equipment suppliers in telecommunication, energy, industrial electronics, security as well as in medical and well-being. Incap has operations in Finland, Estonia and India. The Group's revenue in 2007 amounted to EUR 83 million and the company currently employs approx. 720 persons. Incap's share is listed on the OMX Nordic Exchange Helsinki. For additional information, please visit www.incap.fi.