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City news, 10.10.2005 14:35

Elcoteq inaugurated the new St. Petersburg plant

telecommunication Elcoteq has been operating in St. Petersburg since 1997 and the company currently

has approximately 290 employees there.

Construction of the new plant started one

year ago and the plant was completed on schedule in September 2005.

The plant has a total floor area of roughly 15,000 square meters and when operating at full

capacity it is expected to employ about 1,500 people.

Production has already been moved from the old plant to the new site.

Elcoteq SE is a leading electronics manufacturing services (EMS) company with

original design manufacturing (ODM) capabilities in the communications technology

field.

Elcoteq provides globally end-to-end solutions consisting of design, NPI,

manufacturing, supply chain management and after-sales services for the whole

lifecycle of its customers' products.

These products include terminal products such as mobile phones and set-top boxes as well as communications network equipment such as base-stations, tower-top amplifiers and microwave systems.

The company operates on four continents in 15 countries and employs approximately

18,800 people.

Elcoteq's consolidated net sales for 2004 totaled MEUR 2,921.8.

Elcoteq SE is listed on the Helsinki Exchanges.

Elcoteq has so far invested approximately MEUR 25 in the new manufacturing plant.

This includes the land, the plant's construction and utilities as well as some

machinery. The value of the machinery and equipment to be installed later in the

plant will be determined based on the manufactured products, production volumes

and schedules.

"The new plant gives us the manufacturing capacity we need for the European

market. St. Petersburg is also an outstanding location for research and

development. The city's numerous technical universities and colleges provide a

pool of skilled and motivated workers," commented Jouni Hartikainen, Elcoteq's

President and CEO.

The guests invited to attend the inauguration include officials and business

partners from Finland and Russia, as well as customers and media representatives.

In his inauguration address, Chairman of the Board Antti Piippo directed his

thanks in particular to the City of St. Petersburg's administrators for their

outstanding collaboration over the years and during the construction project

itself. "We hope that we will continue to enjoy close co-operation in the future.

Elcoteq wishes to be an example to other foreign companies and the Russian

administration of how high-technology investments can be implemented in Russia,"

Antti Piippo said.

More information on the company is available at www.elcoteq.com.

News source: kauppalehti.fi

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