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BNS - The electronic and mechanical components maker Incap is about to close its plant at Vuokatti, Finland, relocating the plant's operations to Estonia.
No other solution could be found in negotiations between the partners in the collective agreement and the 124 employees at Vuokatti will be laid off with four to six months' notice, the regional newspaper Kainuun Sanomat reported.
Incap expects concentrating its European electronics manufacture operations in Estonia to allow it to save three million euros next year.
Incap spokeswoman Hannele Polla has earlier told BNS that the company aims to make production more efficient and intensive. Therefore the number of jobs to be created in Saaremaa, where its Estonian plant is situated, is not as big as the number of jobs that disappear in Finland.
Incap, a company listed on the Helsinki stock exchange, designs and manufactures electronic and mechanical components, sub-assemblies and box-build products.
According to the company's website it currently operates three production facilities in Finland, one in Kuressaare, Estonia, and one in Tumkur, India.
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