Aspocomp receives EUR 1.75 million from the European Union’s Just Transition Fund (JTF) as business development support to increase capacity at the Oulu plant

Core Insights - Aspocomp Group Plc has received approximately EUR 1.75 million in business development support from the EU's Just Transition Fund to enhance PCB manufacturing capacity at its Oulu plant [1][2]. Investment and Development - The support is part of a larger investment project valued at over EUR 10 million, aimed at increasing the throughput capacity of the Oulu plant by up to 50% [4]. - The investment will not only boost production capacity but also improve production quality and equipment usability, creating over 30 new jobs, primarily at the Oulu facility [4][5]. - The total project cost is EUR 5,840,569, with the EU grant covering EUR 1,752,170 for equipment investments and construction costs, with a portion paid in advance and the remainder based on incurred expenses [5]. Strategic Importance - The support reflects confidence from the ELY Centre and EU stakeholders in Aspocomp's potential to generate new jobs and establish itself as a significant PCB supplier in Europe [3]. - The investment aligns with Aspocomp's updated strategy announced in November, focusing on expanding the Oulu plant and increasing capacity to meet rising demand, particularly in the defense and semiconductor sectors [2][3]. Company Overview - Aspocomp specializes in PCB technology design, testing, and logistics services, serving various industries including telecommunications, automotive, and semiconductor testing [6][7]. - The company is headquartered in Espoo, with its manufacturing facility located in Oulu, a key technology hub in Finland [8].