Incap opens an office in Hong Kong
INCAP CORPORATION STOCK EXCHANGE RELEASE
29 June 2011 at 11 a.m.
INCAP OPENS AN OFFICE IN HONG KONG
Incap is enhancing and improving its materials management further by establishing an office for sourcing and procurement in Hong Kong. The local company, Incap Hong Kong Limited, will start operating in the beginning of August, when the Group's Director, Sourcing and materials, will move to Hong Kong.
Materials account for a significant share of Incap's revenue. Consequently, sourcing efficiency and material prices have a major impact on the company's profitability and competitiveness. Today Incap already buys steel, cables, PCBs and components directly from Asian suppliers and indirectly through different importers and distributers of components. With the new company in Hong Kong Incap is better able to tender the traditional supply channels especially in electronical components.
The cooperation with the sourcing partner based in Suzhou, China, and in Hong Kong will continue. At the moment, the partner has five employees designated to handle sourcing for Incap.
Besides developing sourcing and procurement Incap also enhances its materials management related to purchases and inventories. The target is to increase the inventory turnover rate and thereby to free working capital and improve the profitability. The resources will be increased as well and BBA Ossi Kinnunen is appointed a new sourcing manager for electronics as from 5 July. Kinnunen has served both OEM and contract manufacturers and has more than 25 years of experience in sourcing and procurement of electronical components. His competence and solid experience will benefit particularly Incap's factories in India and Estonia.
President and CEO
Sami Mykkänen, President and CEO, tel. +358 40 559 9047
Hannele Pöllä, Director, Communications and investor relations, tel. +358 40 504 8296
Company website: www.incap.fi
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 2010 amounted to EUR 59.2 million, and the company currently employs approximately 730 people. Incap's share is listed on the NASDAQ OMX Helsinki Oy. Additional information: www.incap.fi