Stock Exchange Release 11 November 2013 at 4.45 p.m. (EET)
INCAP IS STREAMLINING ITS ORGANISATION TO ENSURE THE ACHIEVEMENT OF BUSINESS TARGETS
Incap Corporation has today concluded the co-operative negotiations, which were launched on 30 September 2013 with the personnel working at corporate services in Finland. The target of the negotiations was to find out means to improve the cost structure in the way that ensures the achievement of business targets.
A total of 19 employees were included in the negotiations. As a result, employment contracts of 11 persons will be terminated. Most of the remaining tasks will be transferred to factory organisations, rearranged or combined with other tasks in the company.
Incap will renew the corporate structure as a part of its turnaround program launched in October 2013. After the reorganisation Incap will have a streamlined central organisation providing the factories with services in Finance, HR and IT. There will be three factories: Tumkur in India, Kuressaare in Estonia and Vaasa in Finland. The factories will operate as self-sufficient profit centres focusing on providing the best manufacturing services to customers.
President and CEO
Fredrik Berghel, tel. +46 73 202 2210
Susanna Pyykkö, HR Manager, tel. +358 40 143 3957
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, India and China. The Group's revenue in 2012 amounted to EUR 64.1 million, and the company currently employs approximately 570 people. Incap's share is listed on the NASDAQ OMX Helsinki. Additional information: www.incap.fi.
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Source: Incap Oyj via Thomson Reuters ONE