NOTE is expanding in Norway through the acquisition of Norteam Electronics AS

As a further step in NOTE’s Nearsourcing strategy, and in order to increase sales in the Norwegian market, NOTE has acquired all shares in the Oslo-based electronics manufacturer Norteam Electronics AS.

The main area of business in Norteam Electronics is focused on services in early stages of the product life cycle, such as prototyping and short series manufacturing. Norteam Electronics has an annual turnover of about NOK 50 m and the number of employees is 40. The company has an established position on the Norwegian market and will be run in close co operation with NOTE Oslo AS.
Björn Furu, the President of NOTE Oslo, will also manage the acquired operation.

Commenting, Knut Pogost, NOTE’s Chief Strategic Officer, said: “In 2009, we plan for Norteam Electronics to positively contribute to NOTEs turnover and profit.”

For more information, please contact:
Knut Pogost, CSO Acquisitions NOTE AB, tel. +46 8 568 990 06, +46 70 552 34 44
Björn Furu, President NOTE Oslo, tel. +47 220 797 29, +47 930 898 46

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