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© dave-cox-dreamstime.com Electronics Production | June 17, 2013

Incap has sold its property in Vuokatti

Incap has sold its plant property located in Vuokatti, Finland, to Vuokatti Superpark Oy, who is at present renting the premises and operating there an all-year activity park under the Angry Birds brand.
The sales contract covers the real estate of approx. 18'570 square metres and a parcel of land of 10'400 square metres as well as the industrial premises of approx. 8'700 square metres, which have been built during 1987-2001.

The sales price equals the book value of the property in Incap's consolidated balance sheet on 31 March 2013. The sales have no substantial effect on the result. Incap is negotiating with the bank on the corresponding mortgage for the property in connection with the on-going negotiations concerning the company's comprehensive financing arrangement.

The premises were left unused in 2010, when Incap concentrated its electronics manufacture in Europe to Estonia. The leasing contract with Vuokatti Superpark Oy was signed in August 2012, and the activity park started operating last December.

Sami Mykkänen, President and CEO of Incap Group: "I am very pleased now when the long-lasting sales efforts and negotiations have come to a conclusion. The leasing contract of the property last year was a good step forward, but our objective was all the time to find a buyer to the property. The sales contract is important to us, as it enhances the negotiations on our comprehensive financing arrangement. I am further delighted that the premises now have a new owner, who is ready to develop operations on long-term for the best of the Sotkamo region."

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