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Vacon Oyj (HEL:VAC1V) Vacon To Build New Factory In USA

Vacon Oyj (HEL:VAC1V) Vacon Group, Press release, December 5, 2008, at 4 p.m.

The global AC drives manufacturer Vacon will build new office and factory premises in Chambersburg, Pennsylvania, the United States. The new premises will be completed by the end of 2009, allowing Vacon to meet its goal of continuous and profitable growth. The foundation stone of the new building will be laid down by Edward G. Rendell, Governor of Pennsylvania, on December 5, 2008.

"The new factory and office premises in Chambersburg, PA allow us to expand our product portfolio in the local market and also offer shorter delivery times to all parts of North America, which is further supported by our central location," says Dan Isaksson, President, Vacon, Inc.

"We will also have our product development and test laboratory under the same roof. This will further help us to serve our North American customers with the commitment Vacon is famous for around the world. Vacon aims at continuous and profitable growth, and this is a major step in this direction in North America," Isaksson continues.

The construction work of the facilities will be completed by the end of 2009, and the site allows extension parts to be constructed when necessary. The premises will be made to Vacon's specifications with a flexible layout and a strong Vacon brand image.

According to Mr Isaksson, successful cooperation with the Area Development Corporations has enabled this project to proceed at a rapid pace.

According to CADC executive director, David Sciamanna, "The Chambersburg Area Development Corporation and the Franklin County Area Development Corporation learned early in 2008 that Vacon had an interest to grow its North American business. We went to work to ensure that this world class company would expand in our community. With the support of the Governor's Action Team, we formed a joint venture and were able to assemble a very competitive package."

Brechbill & Helman will construct the building on Lot 28 in the Chambers-5 Business Park and F&M Trust will finance the project. The joint venture will lease the new factory and office premises to Vacon.

Vacon, Inc., a wholly owned subsidiary of Vacon Plc, was founded in December 2007. On January 1, 2008 Vacon acquired the AC drives business of US-based TB Wood's. Vacon has sales on all continents, and R&D and production on three continents.

Vacon Group

Further information: Dan Isaksson, President, Vacon, Inc., phone +1 717 830 5040

Press contact: Catarina Fant, Corporate Brand Director, Vacon Group, phone +1 717 491 9797, e-mail catarina.fant(at)vacon.com

Vacon in brief: Vacon was established in 1993 from a passion to develop and produce AC drives globally. It is a matter of honour for Vacon to offer customers efficient, reliable and easy to use means for improving process control and saving energy and costs. Vacon's solutions represent clean technology. They can be used to control the speed of electric motors used by industry and municipal engineering, and in power generation using renewable energy. Vacon provides AC drives in the power range 0.33 - 7,000 HP. Revenues in 2007 totalled approx. USD 318 million (EUR 232.2 million).

www.vacon.com

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Vacon Oyj

http://www.vacon.com

ISIN: FI0009009567

Stock Identifier: XHEL.VAC

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Vacon Oyj

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