Powernet Oy deepens its co-operation with NOTE
NOTE has expanded its collaboration with Finnish company Powernet Oy. At the end of 2012, Powernet decided to rationalise its business, and chose to increase the proportion of outsourcing in its production.
In the first quarter of 2013, NOTE took over and industrialised a large number of products from Powernet, and batch production is expected to start in the second quarter. NOTE estimates that this intensified collaboration will increase sales by some SEK 20 m on an annual basis.
Powernet Oy, headquartered in Äänekoski, Finland, develops and manufactures customised solutions for demanding power transmission applications.
NOTE Hyvinkää, Finland, will continue to have primary ownership of the customer relationship, and will support the customer in developing new products, while volume production for Powernet is located at NOTE's Industrial Plant in Estonia.
Paul-Erik Sjöman, CEO of Powernet Oy, comments on the choice of NOTE: ”Our priority was to engage a supplier that has an industry-leading ability to deliver high quality on time, and that has a customer-centric organisation and a high degree of flexibility in their working methods.”
Peter Laveson, NOTE's President and CEO, commented: ”We are pleased that Powernet Oy has chosen to deepen its co-operation with us. Our customer needed a professional and flexible partner for their strategic initiatives.”.
For further information, please contact:
Peter Laveson, President and CEO, tel. 08-568 990 06, 070-433 99 99
Henrik Nygren, Chief Financial Officer, tel. 08-568 990 03, 070-977 06 86
About NOTE
NOTE is one of northern Europe's leading manufacturing and logistics partners for electronics production. NOTE manufactures printed circuit boards, 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, Norway, Finland, the UK, Estonia and China. Sales for 2013 totalled SEK 907 million and the group has some 850 employees. NOTE is listed on NASDAQ OMX Stockholm. For more information, please visit www.note.eu.
NOTE AB (publ) is publishing this information in accordance with the Swedish Securities Markets Act. The information was submitted for publication at 08:30 a.m. on 25 April 2016.