NOTE acquires property for continued expansion in Sweden
NOTE has agreed with the current property owner to acquire the factory and surrounding land where NOTE Torsby conducts its business. This is to enable future expansion of operations to meet increasing demand. The purchase price is SEK 41.5 million.
NOTE Torsby currently rents the property where its operations are conducted. The factory is just over 7,000 square metres in size, and was expanded as recently as 2021. NOTE has agreed with the current property owner to acquire the factory. The acquisition also includes land of just over 54,000 square metres, enabling continued expansion of operations in Torsby. The purchase price is SEK 41.5 million, paid in cash based on NOTE's strong Balance Sheet.
”NOTE is still seeing increasing demand from its customers. The Torsby plant was expanded by 2,200 square metres as recently as 2021, but we're already seeing that the growth forecast on which that expansion was based has been exceeded. With the purchase of the property, we are preparing for further expansion.”, says Johannes Lind-Widestam, President and CEO.
The deal is conditional on the city council approving the sale, which is expected to happen in the coming week.
For further information, please contact:
Johannes Lind-Widestam, President and CEO, tel. 070-541 72 22
Frida Frykstrand, Finance Director, tel. 070-462 09 39
About NOTE
NOTE is one of northern Europe's leading partners for electronics manufacturing. NOTE manufactures printed circuit boards (PCBA), sub-assemblies and complete products (box build). Its customer offering covers the whole product lifecycle, from design to after-sales. NOTE is established in Sweden, Finland, the UK, Estonia, Bulgaria and China. Sales in the last 12 months were SEK 3,687 million and the group has some 1,400 employees. NOTE is listed on Nasdaq Stockholm. For more information, please visit www.note-ems.com.