Stock Exchange Release 9th May 2014 at 1 p.m.
INCAP CLOSED THE CO-OPERATIVE NEGOTIATIONS AT VAASA FACTORY ORGANIZATION
Incap Corporation has closed the co-operative negotiation process with Vaasa factory organization on 8th May 2014. The negotiation process started on 24th March 2014 and total of 74 persons were invited to the negotiation process to discuss the actions to adjust the Vaasa factory organization, operations and cost structure to match the current and estimated situation.
As a result of the negotiation process the employment contracts fewer than 10 employees will be terminated during summertime 2014. Company will also re-evaluate the situation in September 2014 and if needed, there will be more terminations to ensure the cost-effectivity of the Vaasa factory operations. Maximum amount for employment contract terminations will be 15 by the end of September 2014. The company will also use temporary lay-offs (effective for time being) to adjust the capacity according the demand.
Vesa Tammela, Vaasa factory Manager: "The co-operative negotiations are always challenging. I'm very pleased for the good co-operation with our personnel and want to thank them sincerely for that."
President and CEO
Susanna Pyykkö, Group HR Manager, tel. +358 40 143 3957
NASDAQ OMX Helsinki Ltd
INCAP IN BRIEF
Incap Corporation is an international contract manufacturer whose comprehensive services cover the entire life-cycle of electromechanical products from design and sourcing to actual manufacture and further to maintenance services. Incap's customers are leading suppliers of high-technology equipment in their own business segments, and Incap increases their competitiveness as a strategic partner. Incap has operations in Finland, Estonia, India and China. The Group's revenue in 2013 amounted to approximately EUR 36.8 million, and the company currently employs approximately 470 people. Incap's share has been listed on the NASDAQ OMX Helsinki Ltd since 1997. Additional information: www.incap.fi.
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Source: Incap Oyj via Globenewswire