Discontinuation of partly owned Mobilsys AB helps MultiQ reduce costs.
Mobilsys AB, MultiQ´s associated company, is being discontinued. The company, which was a spin-off of MultiQ´s development department, has designed platforms for mobile Internet on the GPRS and UMTS networks. The company will declare bankruptcy, a move that will considerably improve MultiQ´s income statement (by at least SEK 15 million for this year). The balance sheet will be essentially unaffected. According to Jonathan Nilsson, CEO of MultiQ International AB, "Our customized flat monitors are showing steadily higher sales and the ability to penetrate new markets. For instance, our press release yesterday announced that we had obtained four new orders in Norway worth a total of SEK 10 million. One of our top priorities is reaching break-even this year and posting a solid profit. So now that our orders are so encouraging, it´s important for us to eliminate all unnecessary costs from our income statement. "All of MultiQ´s flat monitors are exceptionally sturdy. As a result, they are perfectly suitable for checkout lines, production sites, and public settings. Part of the unique and powerful concept is the ability of businesses to adapt MultiQ´s products to their own logo, design, and colors. With 47% of the share capital, MultiQ International AB was Mobilsys AB´s principal shareholder. High-resolution images are available at http://www.multiq.se under Press Center/Photo Gallery/Products. For further information, please contact: Jonathan Nilsson, VD Phone: 040-14 35 00 or 0709-74 35 38 E-mail; email@example.com