Incap - Company Announcement

Incap's turnaround program to a successful end - evaluation of strategic alternatives started

Incap Corporation
Stock Exchange Release       24 January 2014 at 8 a.m. (EET)



INCAP'S TURNAROUND PROGRAM TO A SUCCESSFUL END - EVALUATION OF STRATEGIC
ALTERNATIVES STARTED

The turnaround program launched at Incap in October 2013 has now been
successfully implemented. The overall strategy in the program was to focus on
core business, i.e. manufacturing and deliveries to customers. The main
objectives of the program were achieved and accordingly, the delivery accuracy
in terms of On-Time-Delivery has improved remarkably, the operational efficiency
has increased both in manufacturing units and in supporting functions, the Group
organisation has been streamlined to cover essential functions only and the
manufacturing operations have been adjusted to actual demand. The organisation
structure has been changed and now the manufacturing units operate as self-
sufficient profit centres having full responsibility of their operations
including sales.

After completion of the actions of the turnaround program, Incap is able to
reach a break-even in profitability during 2014 even with substantially lower
volumes compared with 2013. Incap will publish the financial statements for
2013 and give further guidance for the year 2014 on 25 February 2014.

Evaluation of strategic alternatives

Even though Inission AB did not use the option for a merger by the end of 2013
it has now indicated its continued interest in consolidation of Incap and
Inission. In this new situation Incap's Board of Directors has started
evaluating the strategic alternatives for further development of the company's
business operations. To assess its alternatives for potential strategic
alliances Incap's Board of Directors has decided to engage an investment bank as
its advisor.


INCAP CORPORATION
Board of Directors

Additional information:
Lassi Noponen, Chairman of the Board, tel. +358 40 501 5127
Fredrik Berghel, President & CEO, tel. +46 73 202 2210

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Principal media
www.incap.fi

INCAP IN BRIEF
Incap Corporation is an internationally operating contract manufacturer whose
comprehensive services cover the entire life-cycle of electromechanical products
from design and manufacture to maintenance services. Incap's customers include
leading equipment suppliers in energy-efficiency and well-being technologies,
for which the company produces competitiveness as a strategic partner. Incap has
operations in Finland, Estonia, India and China. The Group's revenue in 2012
amounted to EUR 64.1 million, and the company currently employs approximately
470 people. Incap's share is listed on the NASDAQ OMX Helsinki. Additional
information: www.incap.fi.

[HUG#1756908]