Incap Corporation Stock Exchange Release 6 May 2021 at 1.45 p.m. (EEST)
Insider information
Incap has made a decision to make an investment in a third factory in Tumkur, Karnataka. The construction project is planned to start in the third quarter of 2021, and the opening of the new factory is estimated to take place in the second quarter of 2022.
Incap is currently expanding its existing two factories in India to respond to the demand from existing and new customers. The current expansion is estimated to be completed in the fourth quarter of 2021. After the ongoing expansion has been completed, the total area of the factory will be close to 16,000 sqm. The planned third factory will add another 8,500 sqm to Incap's production capacity.
"The EMS market demand has continued strong despite the current short term coronavirus pandemic related challenges, and we see the strong trend continuing. Through the new capacity expansion, we will be able to respond to the increasing demand and serve our customers even better," says Otto Pukk, President and CEO of Incap.
The factory construction will be carried out in line with sustainable building principles paying special attention to efficient use of energy and other resources. The value of the investment is approximately EUR 4.2 million.
Incap's Tumkur factories are located near Bangalore in India and they specialise in the manufacturing of electronics and box-build products. The focus is on industrial customers such as automation, power generation and telecom companies. The factories serve customers all over the world and employ approximately 1,400 people.
INCAP CORPORATION
For additional information, please contact:
Otto Pukk, President and CEO, tel. +372 508 0798
Murthy Munipalli, Managing Director of Incap CMS Pvt Ltd, tel. +91 98802 31431
Distribution:
Nasdaq Helsinki Ltd.
Principal media
The company's home page www.incapcorp.com
INCAP IN BRIEF
Incap Corporation is a trusted partner and full service provider in Electronics Manufacturing Services. As a global EMS company Incap supports customers ranging from large multinationals and mid-sized companies to small start-ups in their complete manufacturing value chain. Incap offers state-of-the-art technology backed up by an entrepreneurial culture and highly qualified personnel. The company has operations in Finland, Estonia, India, the UK, Slovakia and Hong Kong and employs approximately 1,900 people. Incap's share has been listed on Nasdaq Helsinki Ltd stock exchange since 1997.
