NOTE adapts for continued expansion

NOTE, one of Scandinavia’s leading contract manufacturers of electronics, is adapting its organization as part of the company’s Europe Strategy. The Group is strengthening and hiring new staff for its materials management and purchasing functions in Central Europe. A total of 195 employees at the Norrtälje, Lund and Borås plants are, at the same time, being given notice.

NOTE’s goal is to be one of Europe’s leading contract manufacturers of electronics within five years. As part of this strategy, which involves continuing to become established in European markets, NOTE is now siting the bulk of its volume production at the Group’s Central European production facilities (so-called ”Industrial Plants”). These units will also assume full responsibility for the purchasing and management of their own materials, thereby simplifying their links with other countries. ”We have previously handled these functions from Sweden,” says NOTE Group President Erik Stenfors. ”Now we’re refining our business model by handling high-value technology-intensive services locally, i.e. near our customers, while volume production will be done mainly in Central Europe. The fact that we are doing this now is related to the eastward expansion of the EU last spring, which eliminated some key trade barriers.” A total of 195 employees were given notice today at the plants in Norrtälje, Lund and Borås as a result of the move. ”It is extremely unfortunate to have to let people go,” says Erik Stenfors. ”But at the same time, it is important to bear in mind that this adaptation means that we can continue our commitment to our Swedish plants in terms of both investment and staffing. Production that requires customer proximity will always stay in Sweden, and we will be able to continue to hire in Sweden in other functions and areas of competence.” For additional information, please contact: Erik Stenfors, CEO and Group President NOTE AB, +46 176-799 01 or +46 70-950 80 70 Mats Hultin, CEO NOTE Norrtelje AB, +46 176-793 01 or +46 70-853 95 51 Kjell-Åke Andersson, CEO NOTE Lund AB, +46 46-286 92 10 or +46 70-860 81 23 Anders Andersson, CEO NOTE Borås AB, +46 33-23 35 67 or +46 70-314 13 13

About Us

NOTE is one of northern Europe's leading EMS partners, producing PCBAs, subassemblies and box build products. NOTE's offering covers the whole product lifecycle, from design to after-sales. NOTE has a presence in Sweden, Finland, the UK, Estonia and China. NOTE is listed on Nasdaq Stockholm. For more information, please go to www.note.eu.

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