Investors / Reports / Stock Exchange Releases / ASPOCOMP RECEIVES EUR 1.3 MILLION FROM THE EUROPEAN REGIONAL DEVELOPMENT FUND AS DEVELOPMENT SUPPORT
Published:
2018-01-22 13:40:00 CET
Aspocomp Group Plc
Inside information

ASPOCOMP RECEIVES EUR 1.3 MILLION FROM THE EUROPEAN REGIONAL DEVELOPMENT FUND AS DEVELOPMENT SUPPORT

Espoo, Finland, 2018-01-22 13:40 CET (GLOBE NEWSWIRE) --

Aspocomp Group Plc, Company Announcement, January 22, 2018 at 2:40 p.m.

PCB technology company Aspocomp Group Plc has been granted about EUR 1.3 million in development support from the European Regional Development Fund under the Leverage from the EU 2014-2020 program for investments in high-tech and capability development.

The development support granted by the Centre for Economic Development, Transport and the Environment of North Ostrobothnia (ELY Centre) is earmarked for the EUR 10 million investment program that Aspocomp announced in December (stock exchange release dated December 18, 2017). With these investments, the company will bolster its position as a partner to the world’s leading technology and semiconductor companies by introducing more advanced technology at its Oulu plant and increasing production capacity.

“This support decision is highly significant for us. It shows that the ELY Centre and EU actors have confidence in our ability to develop new technology and create new jobs through growth, and that they want to support the rising electronics ecosystem in Oulu,” says Mikko Montonen, CEO of Aspocomp.

The support is targeted at the part of the investment project that aims to develop and improve Aspocomp’s ability to deliver high-tech PCBs for the testing of demanding semiconductor components. The investments will be implemented in 2018 and 2019. They will create more than 30 new jobs at the company, most of them at the Oulu plant.

The development support provides Aspocomp with a total of EUR 1,267,500 for equipment investments and EUR 45,490 for technology development-related salaries. The support will be paid on the basis of expenses incurred as the investments are completed in 2018 and 2019.

For further information, please contact Mikko Montonen, CEO,
tel. +358 20 775 6860, mikko.montonen(at)aspocomp.com.

ASPOCOMP GROUP PLC

Mikko Montonen
CEO

Aspocomp – a service company specializing in PCB technologies

A printed circuit board (PCB) is used for electrical interconnection and as a component assembly platform in electronic devices. Aspocomp provides PCB technology design, testing and logistics services over the entire lifecycle of a product. The company’s own production and extensive international partner network guarantee cost-effectiveness and reliable deliveries.

Aspocomp’s customers are companies that design and manufacture telecommunication systems and equipment, automotive and industrial electronics, and systems for testing semiconductor components for security technology. The company has customers around the world and most of its net sales are generated by exports.

Aspocomp is headquartered in Espoo and its plant is in Oulu, one of Finland’s major technology hubs.

www.aspocomp.com