Incap celebrates its 10-year presence in Estonia
Press release, 23 April 2010 at 9 a.m.
INCAP CELEBRATED ITS 10-YEAR PRESENCE IN ESTONIA
The Estonian subsidiary of Incap Group, Incap Electronics Estonia OÜ, celebrated yesterday it's 10-year anniversary in Kuressaare. Besides the 31 employees that have worked for Incap Estonia as from the very beginning some guests along with the Group management participated in the festive event.
Incap established manufacturing operations in Estonia in 2000 when Incap acquired the local electronics manufacturer Altron OÜ. Altron had started operating in 1994 and it had customers in Finland, Sweden and Denmark. The company acted as a subcontractor for PCB assembly, testing and box-build assembly mainly using the customers' own materials. Typical products at that time were power supply components, battery chargers, temperature sensors and thermostats.
Starting production in Estonia was for Incap Group the first step in the internationalisation of the company's electronics manufacturing. The trump card of Estonia were already at that time the competitive pricing of work and moderate corporate taxation. The machinery and equipment of the factory were modest at first and the production facility was a 3-storey building with a total floor space of about 1,300 square meters. The premises were gradually renovated to meet with the needs of Incap's own customers.
In line with the increased operations the need for new manufacturing space became obvious and the new, modern factory building of about 3,700 square meters was inaugurated in 2006. The factory was set up according to the specific requirements of Incap and at the same time, new investments were made amounting to approximately EUR 5 million. The new up-to-date production facilities enabled the production of new products and the production quantities started increasing steadily.
Incap launched the operations in Estonia with a staff of 50 persons. Today Incap is one of the biggest employers in Kuressaare with its 180 employees, and Incap was nominated for the best employer of the year 2009 by the Kuressaare Town Government.
"The Kuressaare factory plays an important role in Incap's production structure today. The operations will be expanded further now when we will transfer the production of our Vuokatti factory to Estonia during this year. The unit's high-quality standards and the long experience of personnel in the electronics manufacturing ensure cost-efficient deliveries to our customers. We will devote to the enhancement of technical competence and high quality also in future", says Sami Mykkänen, President and CEO of Incap Group.
Sami Mykkänen, President and CEO, Tel. +358 40 559 9047
Mikko Hirvinen, Chief Operating Officer, Tel. +372 555 15 295
Hannele Pöllä, Director, Communications and HR, Tel. +358 40 504 8296
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 and India. The Group's revenue in 2009 amounted to EUR 70 million and the company currently employs approximately 780 people. Incap's share is listed on the NASDAQ OMX Helsinki. Additional information: www.incap.fi.