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.