Aspocomp receives EU support to expand Oulu plant
Finnish PCB manufacturer Aspocomp Group has been granted approximately EUR 1.75 million in business development support from the European Union’s Just Transition Fund (JTF) to increase manufacturing capacity at its Oulu plant.
The funding, provided by the Centre for Economic Development, Transport and the Environment of Northern Ostrobothnia (ELY Centre), is linked to a directed share issue and long-term financing arrangements that Aspocomp announced in October, as well as the company’s updated strategy disclosed in November. The strategy includes investments to expand the Oulu plant, with particular focus on the PCB markets for defense and semiconductor industries.
“This support decision is highly significant for us. It shows that the ELY Centre and EU actors have confidence in our ability to create new jobs through growth, and to become one of the most significant PCB suppliers in Europe. The support now granted will enable us to increase the capacity of the Oulu plant on a rapid schedule and thus help us meet the increased demand,” says Manu Skyttä, CEO of Aspocomp, in a press release.
The funding will cover part of a larger investment project valued at over EUR 10 million, which aims to increase throughput at the Oulu plant by up to 50%. The investment is also expected to improve production quality and the usability of machinery and equipment. More than 30 new jobs will be created, mostly at the Oulu plant. The project is scheduled for completion in summer 2027.
The total cost of the project, co-financed by the European Union, is EUR 5.84 million. The JTF grant provides EUR 1.75 million for equipment investments and related construction costs.
