Incap is planning to outsource the sheet-metal business of its Helsinki
Incap Corporation Stock Exchange Release
17 September 2010 at 9:30 a.m.
INCAP IS PLANNING TO OUTSOURCE THE SHEET-METAL BUSINESS OF ITS HELSINKI PLANT
Incap Corporation and Lankapaja Corporation have signed a letter of intent regarding the sale of the sheet- metal business of Incap's Helsinki plant. The intention is to sign the actual agreement so that the sheet-metal production at the plant will be transferred to Lankapaja on 1 January 2011.
Incap's Helsinki plant is specialised in the manufacture of sheet-metal mechanics and final assembly. If the agreement is concluded, the personnel of Incap's sheet-metal mechanics will transfer to the service of Lankapaja as continuing employees. The sheet-metal machining centres of the plant would also be transferred to Lankapaja, who would continue production at Incap's current premises for the time being according to the preliminary plan.
The planned sale of business is consistent with Incap's strategy, and if concluded, will enable the specialisation of the Helsinki plant into an final assembly plant. Incap's goal is to increase the share of deliveries of large-scale product packages to customers both in the energy efficiency and well-being industries. At the same time, the company's resources for focusing in final assembly will be enhanced further.
Incap will not completely give up sheet-metal manufacture, as the company will retain its mechanics manufacturing at the Vaasa plant.
According to Sami Mykkänen, the President and CEO of Incap, the business sale currently being negotiated is one step in the structural change Incap is undergoing. "We are focusing our resources on the core areas in our strategy and specialising in the operations where we can offer the greatest added value to our customers. Our cooperation with Lankapaja enables us to continue acquiring mechanical parts for manufacturing assemblies at a competitive price."
Lankapaja has 75 years of experience in metal manufacture. Lankapaja has several manufacturing units, of which the sheet-metal unit is one of the largest in the company. The company currently employs 100 persons at the approximately 12,000 m2 plant in Nummela.
President and CEO
For additional information, please contact:
Sami Mykkänen, President and CEO, tel. +358 40 559 9047
Eeva Vaajoensuu, Chief Financial Officer, tel. +358 40 763 6570
Hannele Pöllä, Director of Communications and Human Resources, tel. 040 504 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 2009 amounted to EUR 70 million and the company currently employs approximately 800 people. Incap's share is listed on the NASDAQ OMX Helsinki. Additional information: www.incap.fi.