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Electronics Production | June 28, 2004

Elcoteq to build a new plant in Russia

The Board of Directors of Elcoteq Network Corporation, has decided to build a new plant in St. Petersburg, Russia. Construction of the plant, with an area of 14,700 square meters, is expected to begin in the final quarter of 2004, and the plant is expected to be ready in the fall of 2005.
"From 2005 onwards we will need more production capacity for mobile phones and communications network equipment. This investment program will safeguard our service capability to European customers, and at the same time it will strengthen our position as the number one communications technology electronics manufacturing services company in the fast growing Russian markets," said Mr Jukka Jäämaa, Executive Vice President at Elcoteq.

The investment in land and construction will total approximately MEUR 15. The machinery and equipment needed will be determined by the type of products, production volumes and timing of product programs. When at operating at capacity the plant is expected to employ some 1,500 people.

Elcoteq has already operated a manufacturing plant in St. Petersburg since 1997 with personnel currently totaling 170 employees.

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