NOTE divests operation in Skellefteå to Optronic

As part of the previously announced structural measures in NOTE’s Telecom customer segment, it has reached an agreement regarding the sale of the operations of NOTE Skellefteå. The acquirer is Optronic, a Swedish optoelectronics services provider that focuses on integrated production and development.

The previous transfer of volume production to NOTE’s plants in Estonia and China has resulted in the significant downscaling of NOTE Skellefteå. This operation now has some 40 employees. A settlement has been reached, implying the remaining operations being sold to Optronic. The take-over starts from year-end 2009, and some staff will be able to stay in employment with Optronic at Skellefteå.

“I am pleased about what we are doing now. One result of the take-over is to safeguard skills and continuity for customers. It is also very positive that we have succeeded in achieving the best possible solution for our staff at Skellefteå together with Optronic,” commented Knut Pogost, NOTE’s CEO and President. “The deal also allows us to reduce our total assets, while also helping us lift our margins somewhat in the fourth quarter.”

Rickard Åström, Optronic’s CEO, added that the timing of the deal suits his company well: “the optoelectronics market is in high growth, and our acquisition of NOTE Skellefteå means that we can respond to this growth optimally. We now get access to new, skilled staff, while our plant capacity is significantly enhanced.”

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