Stock Exchange Release 5 March 2013 at 6 p.m.
INCAP IS INTENSIFYING ITS CORPORATE SERVICES BY MEANS OF REORGANISATION
Incap Corporation is enhancing its operations and carrying out a reorganisation in its corporate services. The company has today concluded the co-operative negotiations, which were launched on 18 January with the personnel working at corporate services in Finland. The negotiations referred to actions leading to increased efficiency of operations and to improved cost structure. A total of 20 persons were included in the negotiations, most of them working in Helsinki.
As a result of the negotiations, the corporate services are reorganised so that a part of the tasks will be transferred to the company's offices in Tallinn and Bangalore, the jobs of persons working in Helsinki will be combined and some tasks will be centralised to Incap's units in Kuressaare and Vaasa. The company trusts that this way it is possible to enhance the operations in supporting functions like finance and administration, sourcing and IT.
The reorganisation affects the work of ten employees. The contracts of five persons will be terminated and the situation of further five employees will be evaluated later on. In addition to the corporate office, Incap is running in Finland a plant in Vaasa, where the company employs 72 persons in the production of rotor component and mechanical parts.
President and CEO
For additional information, please contact:
Sami Mykkänen, President and CEO, tel. +358 40 559 9047 or +372 5553 7905
Kirsti Parvi, CFO, tel. +358 50 517 4569
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 repair and 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, India and China. The Group's revenue in 2012 amounted to approximately EUR 64.1 million, and the company currently employs approximately 610 people. Incap's share is listed on the NASDAQ OMX Helsinki Ltd. Additional information: www.incap.fi.
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Source: Incap Oyj via Thomson Reuters ONE