Norrtelje Elektronik builds on Swedish electronics group
Electronics manufacturer Norrtelje Elektronik acquires competitor Trienta Elektronik's production facility in Torsby. "A very appropriate step in our expansion strategy", says Chairman of the Board Sten Dybeck.
Norrtelje Elektronik today announces an agreement with Trienta Elektronik AB whereby Trienta's Torsby factory in Värmland is acquired and placed in a sister company. This will create one of Sweden's largest electronics production groups with more than 300 employees and annual sales of approximately SEK 500 million.
Norrtelje Elektronik AB is owned by the parent company Elektronikbyggarna i Norrtälje AB, which since last spring is a public limited company. The number of shareholders is about 150 and consists partly of well-known private investors and partly of employees in the business. The parent company is now establishing a subsidiary that will take over the Torsby factory and thus become a sister company to Norrtelje Elektronik.
Strategy for simultaneous growth in turnover and profitability
Norrtelje Elektronik is experienced in industrial electronics, telecoms and IT. The Torsby plant specialises in medical technology and highly complex electronics products in medium volumes. The idea is to continue to develop the factories' cutting-edge competences while coordinating marketing, materials purchasing and technology development.
"We now have growth in Norrtelje Elektronik that we want to strengthen, which gives us reason to acquire additional capacity," says Sten Dybeck, chairman of both Elektronikbyggarna in Norrtälje and Norrtelje Elektronik.
"We have promised our shareholders that the company will be floated on the stock exchange or sold at market price by 2005 at the latest, and we intend to increase both turnover and profitability by then. The purchase of Torsby gives us both a broader customer base and opportunities for increased structuring of our resources," continues Sten Dybeck.
Torsby benefits from previous acquisitions
Earlier this year, Norrtelje Elektronik acquired the company EuroSupply, which brought with it a global network of electronics manufacturers. Norrtelje Elektronik is the only Swedish-owned electronics manufacturer that is global, and production for Swedish customers currently takes place on three different continents. Norrtelje Elektronik also has a second network of subcontractors in central Europe that handles volume production of electronics. This network is managed by a wholly owned subsidiary in Poland." - We have seen the importance of the networks for Norrtelje Elektronik's rapid growth and now they are also benefiting the Torsby factory," concludes Sten Dybeck.
The factories in Norrtälje and Torsby are both quality certified according to ISO 9002 and the factory in Torsby is also certified according to the medical standard ISO 46000.
For more information, please contact Deputy CEO Erik Stenfors at
tel 0176-793 74 / 0709-50 80 70