2008-01-24

NOTE makes acquisition for growth in the UK

Commenting, Knut Pogost, NOTE’s Chief Strategic Officer, said: “Proqual is a technologically skilled and flexible EMS (electronics manufacturing services) company located in Gloucestershire, near Bristol. Operations are focused on services early in product life-cycles like prototyping and sophisticated electronics production in shorter runs. Annualised sales are some SEK 45m and the company has 40 employees. We will now add further skills to this business and create our first Nearsourcing operation in the UK. Thus the customer base the company has accumulated offers major potential for future growth on the UK market.”

“The appointment of our new Board of Directors last spring meant work on developing our unique business model intensified,” added Arne Forslund, NOTE’s CEO and President, “this acquisition is intended to increase our growth and is fully consistent with the previous start-up of our Nearsourcing operation NOTE Oslo. We expect the new UK company to make a positive contribution to our margins as early as the current year.”

“The trend towards increased outsourcing of electronics production is strong and we expect it to offer healthy growth opportunities. Now, as planned, we are scaling up our offensive on new geographical markets which will contribute to further growth for NOTE in the long term.”

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