NOTE up on the fast-track list

NOTE is Sweden's fastest growing subcontractor of electronics production. These are the findings of the annual Growth List of Sweden's fastest expanding companies published by Svenska Dagbladet. Of Sweden's approximately 230,000 limited companies, NOTE ranks 38th this year, up from 44th last year.

Fast grower since 1997
NOTE focuses on manufacturing in medical technology, the automotive industry, telecoms/optics, security electronics and industrial electronics. "This is the seventh year in a row that NOTE has been on the Growth List, in an industry where many competitors have been forced to downsize in recent years," says Erik Stenfors, CEO of NOTE AB.

Well-known customers
NOTE produces electronics for a wide range of customers, including ABB, Assa-Abloy, Atlas Copco, Dresser Wayne, Electrolux, Hasselblad, Nobel Biocare, Parker Hannifin and Volvo. The Growth List shows that NOTE has had an average annual growth of 34.7 per cent over the past five years. Sales in 2002 totalled SEK 637 million, or approximately SEK 1.5 million per full-year employee.

Profits and turnover up despite recession
With profits of SEK 31 million and 425 employees in Sweden, NOTE is one of the winners in the electronics sector. - We're very pleased to be on the Growth List, and this year's ranking is a success for our staff and management. It shows that our strategy of offering market-centred production in Sweden and globally is right. NOTE has grown profitably every year, even during the recession, which is why we have an exciting future ahead of us, and I dare say we'll be strong when the turnaround comes," concludes Erik Stenfors.

For further information, please contact: Erik Stenfors, CEO NOTE AB, +46 (0)176-799 01, +46 (0)70-950 80 70 or Ann Lewerentz, Marketing Manager NOTE Norrtelje AB, +46 (0)176-793 29

Facts about the Growth List
The purpose of the Growth List is to highlight companies that are growing with staying power. Svenska Dagbladet and Ahrens Rapid Growth have published the Growth List annually since 1993. To be included on the Growth List, the company must:
- over the last five years has had an average organic turnover growth of at least 25 %
- turnover growth must not fall below 20 per cent in more than two of the five growth years
- has at least 50 employees in 2002
- turnover of at least SEK 50 million in 2002
- is profitable
- is a Swedish company with Swedish majority ownership

Facts about the NOTE group
NOTE is a leading electronics manufacturer with over 30 years' experience. NOTE is a complete contract manufacturer, offering everything from development to large-scale serial production. NOTE is the only Swedish-owned global supplier of EMS (Electronics Manufacturing Services).

NOTE offers global, market-orientated production. NOTE currently has 600 employees and plants/NOTE Lab Norrtälje, Torsby, Lund, Kista and Gothenburg. NOTE also has a plant in Lithuania, and operations in Central Europe, managed from Gdansk, Poland. NOTE has partners in China, Brazil, India, Italy and the USA through its global network of electronics manufacturers, ems-ALLIANCE.

In 2000, NOTE's turnover was SEK 350 million and profit SEK 10 million
In 2001, NOTE's turnover was SEK 514 million and profit SEK 27 million
In 2002, NOTE's turnover was SEK 636 million and profit SEK 31 million

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