Incap to sell mechanics factory - focus on electronics

Incap Corporation has completed the negotiations concerning the sale of the operations in its mechanics factory in Vaasa to the factory's management. The Vaasa factory is producing sheet-metal parts and rotor components, and the factory employs today 55 persons. According to the sales contract, operations will be transferred to the buyer from 1 January 2015, when the factory's personnel is taken over as old employees by the new company. The business transaction covers the operations in the Vaasa factory including the related fixed assets and inventories, contracts and customer base as well as personnel. The net sales price is approximately EUR 1.1 million and the final sales price will be determined on 31 December 2014. It has been estimated that the transaction does not have any essential influence on the result of Incap Group for 2014. The deal enables Incap's to focus on the contract manufacturing of electronics with factories in Kuressaare, Estonia and in Bangalore, India. Both factories will manufacture electronics and related box-build products. Ville Vuori, CEO of Incap Group: "The focus on electronics manufacturing enhances the core of our business and enables the cost-efficiency in operations. Our operations now consist of two state-of-the-art electronics factories that will be operating under the same enterprise resource planning system (ERP). Our customer promise can be summed up in Quality, Delivery accuracy and Cost efficiency.”