Incap Estonia Increased Its Exports to Finland by a Third

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Located on Estonia’s Saaremaa island, Incap Electronics Estonia achieved a 33.8% increase in exports to Finland last year, reaching sales revenue of EUR 16.2 million in 2023. Compared to three years ago, exports to Finland have grown by 118.6%. Incap has adapted its manufacturing services to meet the needs of the Scandinavian market, which has supported the increase in exports, also due to the region’s focus on the green transition and environmental sustainability.

Incap’s industrial electronics product range has expanded to include metering and measuring devices, chargers and power electronics, HVAC electronics, marine electronics, energy storage systems, laboratory devices, defence, and military electronics. The expansion of this product lineup has been supported by investments in cost-effective mass production capabilities and upgrades to its SMT (surface-mount technology) line.

Strategic Investments Drive Export Growth

“The EUR 2.35 million investment in new technology has increased our overall SMT production capacity by more than 50%. In addition, a new prototyping and fast-lane line was added, along with two THT (Through-hole technology) lines. These improvements make us more efficient and support our role as a full-service electronics manufacturer, covering PCB assembly, final product assembly, and supply chain management,” stated Margus Jakobson, Managing Director of Incap Estonia.

Incap focuses on cost-effectiveness in small and large-volume production to effectively support rapidly scaling companies. The company’s investments and expansions aim to enhance service quality and meet the increasing expectations of partners. “The recent expansion in our product range over the last few years is just the beginning. We strive to continually improve our services to offer high-quality and affordable manufacturing services,” added Jakobson.

Electronics manufacturing services company Incap has established a strategic direction to expand into nearshoring, capitalizing on the growing trend of nearshoring instead of sourcing from China. Jakobson commented: “On one hand, the price differences between the two regions are decreasing. On the other hand, it is encouraging to see that our clients support our values regarding sustainability and corporate responsibility. They are more willing to relocate their products back to Europe, thereby reducing their environmental footprint. Additionally, more and more customers are seeking a more personal and flexible approach to business.”

Commitment to Sustainability and Corporate Responsibility

Incap’s business approach extends beyond expansion to include sustainability and corporate responsibility. When it comes to sustainability, Incap strives to be a forerunner in the industry and has invested in sustainable development at all factories. Incap Estonia’s efforts in these areas have been recognised with a gold-level quality label by the Responsible Business Forum in Estonia. This award shows the company’s dedication to economic, social, and environmental interests, matching what today’s customers and partners expect.

Incap provides manufacturing services not only from its Estonian unit but also from factories in India, Slovakia, the UK, and the USA. The recent acquisition of a factory in the USA supports Incap’s European customers by providing efficient access to the US market. This global presence enables competitive pricing and facilitates easier market access. Incap India factories integrate the top advantages of the Asian region with European business practices. Today, Incap stands as a strong strategic partner for both rapidly scaling startups and large, established customers on different continents.