OULU, FINLAND – Aspocomp will invest about EUR 10 million ($11.8 million) in new technology at its Oulu plant, primarily in 2018 and 2019.

The floor area of the plant will not be expanded, as additional capacity will be built inside the current facility.

The firm is preparing for growth in demand as a result of the progress of digitalization worldwide, such as the rise of 5G technology and AI applications.

Aspocomp’s investments have two main objectives: 1) to grow the company’s semiconductor component test segment and 2) increase production capacity, especially to cater to rising demand in the 5G and automotive industries.

“It is clear to us that the development and testing phases in which PCBs are required will be increasingly challenging in the future,” said Mikko Montonen, CEO of Aspocomp. “They involve a very high level of technology. In this business, speed is service and it creates demand. Moreover, PCBs suitable for testing are produced in volumes that are a good fit for our Oulu plant, but not for Asian high-volume suppliers, which means that our market position will be excellent after the investments.”

The investment is expected to create more than 30 new jobs.