PartnerTech reduces its staff and streamlines its production organization

PartnerTech reduces its staff and streamlines its production organization PartnerTech, which operates in the market segments of telecom infrastructure, IT/mechatronics and medical technology, is reducing its staff as a result of lower telecom infrastructure volumes. Some 100 of the group's 900 employees will be affected. According to PartnerTech CEO Mikael Jonson, "Volumes in this segment have been declining for several straight quarters, and no evidence of an increase is yet in sight. As a result, we are adapting our organization to present conditions and strengthening our long-term competitiveness." Parallel to the reductions, PartnerTech is streamlining its production organization so as to focus more on customers and profitability. In connection with the effort, the Åtvidaberg facility will become four units and some Storfors personnel will be transferred to Karlskoga. Furthermore, the Spånga and Järfälla production units will be combined. A total of 50 people are being given notice at the Åtvidaberg facility, 30 at Spånga and 22 at Storfors. In compliance with the Industrial Codetermination Act (MBL), PartnerTech has entered into negotiations with union representatives. The total cost of the program is estimated at SEK 27 million. Jonson concludes, "The organizational revamping now under way will give us the means to improve our business and ensure solid margins when the market recovers and volumes return to normal." PartnerTech develops and manufactures electronics products under contract for leading growth companies, primarily in telecom infrastructure, IT/mechatronics, and medical equipment. The group, which has some 900 employees in Sweden and abroad, is quoted on the Attract 40 list of the Stockholm Stock Exchange. For additional information, please contact: Mikael Jonson, CEO, PartnerTech AB, phone +46 40 102641 mobile +46 70 678 1001 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.bit.se/bitonline/2001/06/20/20010620BIT00950/bit0002.doc http://www.bit.se/bitonline/2001/06/20/20010620BIT00950/bit0002.pdf

About Us

PartnerTech develops and manufactures products under contract for leading companies, primarily in Defense and Maritime, Industry, Information Technology, MedTech and Instrumentation, CleanTech and Point of Sale Applications. With upwards of 1,300 employees at its plants in Sweden, Norway, Finland, Poland, the UK, the United States and China, PartnerTech reports annual sales of more than SEK 2 billion. PartnerTech AB (www.partnertech.com), the parent company, has its head office in Vellinge, Sweden, and is listed on the Nasdaq OMX Stockholm Exchange.

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