NOTE steps up European expansion

NOTE steps up European expansion

NOTE (SSE: NOTE), a Scandinavian leader in Electronics Manufacturing Services (EMS), today announced that it will etablish NOTE in the UK. To head this activity, Ms Elaine Barnes will join the NOTE group.

During an initial public offering during last spring, the Swedish-based EMS provider NOTE declared its ambition to be one of Europe's leading EMS-companies within five years. In accordance with the expansion strategy, the company today announced a step up of the activities in the UK by opening a Gateway in England.

"To be a true leading European EMS-company, presence in all major markets is necessary", says Erik Stenfors, CEO of NOTE. " We have already been discussing contracts with potential customers in the UK, and this is our next logical step"

To manage the UK operation, Ms Elaine Barnes has been appointed Head of NOTE UK. Ms Barnes was previously European Sales Director for Global Accounts at the world leading component distributor Future Electronics.

"There is huge potential for companies such as NOTE in the UK market", says Ms Barnes. "NOTE´s business model of having engineering and production facilities close to their OEM customers as well as Industial Manufacturing Plants in low-cost countries for volume manufacturing, together with a global footprint, is a good match for the needs of the UK market".

The NOTE Gateway concept consists of smaller business units which are located based on strategic customer markets, and works with the industrialization phase of new products. It also functions as an entrance door to the other values of the business modell. NOTE today has five active Gateways in Sweden.

NOTE Gateway UK will open October 18th.

For further information, please contact:
Erik Stenfors, CEO NOTE AB, phone, +46 176-799 01 or +46 70-950 80 70
Elaine Barnes, phone +44 1256 35 44 99.

About NOTE
NOTE is one of Scandinavian's leading contract manufacturers of electronics, and offers specialized expertise in electronics production throughout the entire value chain: from design and development through manufacturing to the aftermarket. Net sales for 2003 totaled MSEK 859, with a profit before tax of MSEK 63. The Group has approximately 900 employees. NOTE is listed on the Stockholm Stock Exchange O-List.

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