NOTE acquires industrial property in Herrljunga

In summer 2022, NOTE acquired its fourth electronics plant in Sweden - NOTE Herrljunga. Since then, operations in Herrljunga have progressed very strongly, with growth and profitability clearly exceeding initial plans. Sales last year were SEK 249 m, with an operating margin of over 10%. NOTE has now acquired the previously leased industrial property of just over 6,400 m2 where it conducts its business. The acquisition also includes land of just over 25,000 m2.

This property is customised for electronics production and offers great potential for continued expansion of production. NOTE has acquired all shares in the property company that owns the property. Based on a valuation of the property of approximately SEK 24 m (approximately SEK 3,800/m2), before deductions for deferred tax, the purchase price for all shares in the property company is SEK 15 m. The payment has been made in cash.

”We continue to see good opportunities to increase our manufacturing in Sweden. It is positive that, together with our strong customer base, we will now be better able to develop the business and our capacity needs while reducing our ongoing property costs.”, says Johannes Lind-Widestam, President and CEO of NOTE.

About NOTE
NOTE manufactures printed circuit boards (PCBA), sub-assemblies and complete products (box build). NOTE is a competitive electronics manufacturer and a stable business partner to customers with high standards. Its products are found in complex systems for electronic control, monitoring and security, for example.

The business model is based on offering advanced manufacturing, customised logistics solutions and advice at the best possible total cost through long-term customer relationships and partnerships. The customer offering covers the entire product life cycle, from design to aftermarket. Customers are primarily large companies operating on the global market, but also companies with their primary sales in northern Europe.

NOTE is established in Sweden, Finland, the UK, Estonia, Bulgaria and China. Sales in the last 12 months totalled SEK 3,849 million and the group has some 1,450 employees. NOTE is listed on Nasdaq Stockholm. For more information, please visit www.note-ems.com.