Incap decided on temporary lay-offs in cooperation negotiations
INCAP CORPORATION STOCK EXCHANGE RELEASE
5 October 2011 at 8.30 a.m.
INCAP DECIDED ON TEMPORARY LAY-OFFS IN COOPERATION NEGOTIATONS
The negotiations in accordance with the Cooperation Act at Incap's Helsinki factory have been concluded. The company will lay off the entire blue-collar personnel of the factory for a duration of 8 days so that the factory will be closed from 19-28 October. Furthermore, 11 employees are laid off for the rest of the year and the others will work on short time until the end of the year.
The negotiations were initiated on 13 September due to production and financial reasons, because the company wanted to prepare for the decline in demand as indicated by some customers. The Helsinki factory employs today 62 persons.
President and CEO
Sami Mykkänen, President and CEO, tel. +358 40 559 9047
Kirsi Hellsten, Director, Human Resources, tel. +358 50 387 7437
Hannele Pöllä, Director, Communications and Investor Relations, 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 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 760 people. Incap's share is listed on the NASDAQ OMX Helsinki. Additional information: www.incap.fi.