NOTE Divests Mechanical Unit in Järfälla

Regulatory News:

NOTE (STO:NOTE) has sold its mechanical business in Järfälla, Sweden. Buyer is Stockholm based Larsson Finmekaniska AB, already a cooperation partner to NOTE. NOTE Järfälla AB’s sales in 2014 amounted to approximately SEK 13 m and the number of employees is 18.

”The sales of our mechanical production unit in Järfälla strengthens our focus in Sweden towards electronics manufacturing, logistics and final assembly of complete products (box build). Over the years, NOTE Järfälla has transferred mechanical know-how to other NOTE units, primarily to NOTE’s sourcing functions. This has enabled us to establish a strong partner model with carefully selected suppliers within the mechanical area, which has contributed to deepen our customer assignments within final assembly of complete products–a service currently provided from all NOTE units.

During the last years, we have experienced an unsatisfied profitability within our mechanical unit. Short term, the divestment includes restructuring costs, but the transaction is expected to contribute positively to NOTE’s operating profit already in 2015”, says Peter Laveson, CEO and President of NOTE.

About NOTE

NOTE is one of the leading Northern European manufacturing and logistics partners for electronics production. NOTE produces PCBAs, sub-assemblies and box build products. NOTE's offering covers the whole product lifecycle, from design to after-sales. NOTE has a presence in Sweden, Norway, Finland, the UK, Estonia and China. In 2013, net sales were SEK 907 million; the group has approximately 850 employees. NOTE is listed on the Nasdaq Stockholm Exchange. For more information, please go to www.note.eu.

NOTE AB (publ) discloses the information provided herein pursuant to the Securities Markets Act. The information was submitted for publication on 2 February 2014 at 3:15 p.m.

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