Incap to start Cooperation negotiations in Finland
Incap Corporation Stock Exchange Release
26 August 2010, 9 a.m.
INCAP TO START COOPERATION NEGOTIATIONS IN FINLAND
Incap has convened negotiations in accordance with the Cooperation Act in its operations in Finland. The negotiations concern temporary layoffs for a maximum total duration of 90 days, due to production and financial reasons. The company aims at adapting its operations according to the decreased revenue and at gaining savings in costs.
The negotiations concern 186 employees who work in Incap's factories in Vaasa and Helsinki as well as in corporate services. The personnel of the Vuokatti factory is not involved, as the factory will be closed down during autumn and most of the employees are on term of notice with no obligation to work.
The first meeting will be held in the end of August and the target is to conclude the negotiations as soon as possible.
President and CEO
Sami Mykkänen, President and CEO, Tel. +358 40 559 9047
Hannele Pöllä, Director, Communications and HR, Tel. +358 40 504 8296
Nasdaq OMX Helsinki Ltd.
INCAP IN BRIEF
Incap Corporation is an internationally operating contract manufacturer whose comprehensive services cover the entire lifecycle of electromechanical products from design and manufacture to maintenance services. Incap's customers are leading equipment suppliers in energy-efficiency and well-being technology, 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 around EUR 70 million, and the company currently employs approximately 780 people. Incap's share is listed on the NASDAQ OMX Helsinki. For additional information, please contact www.incap.fi.