Nilar reduces workforce in Gävle and Täby, Sweden

Täby, November 22 2021. Nilar International AB’s subsidiary Nilar AB announces today that two notices of dismissal have been issued, among collective agreement employees and white-collar employees in Gävle and white-collar employees in Täby. The notice will affect 110 employees. Negotiations with trade unions will be initiated.

The background to the notice is a need to temporarily slow down the business.

As previously announced, both Nilar and Nilar's partners have had major difficulties with the purchase of electronic components, which has had a significant effect on sales for the period. In addition, problems with product stability and product quality have now arisen during the ramp-up of production. To avoid stock build-up and until product stability and quality problems have been resolved, Nilar will temporarily reduce production and delay planned ramp-up.

For further information, please contact: 
Erik Oldmark, CEO
+46 70 432 4444
erik.oldmark@nilar.com 

Press contact:
Matilda Ekman Vråmo
+46 72-213 01 28
matilda.ekman.vramo@nilar.com

About Nilar:
Nilar is a Swedish-based developer and manufacturer of batteries for stationary energy storage systems. Energy storage systems can be used to bridge imbalances between energy production and demand in order to, for example, improve the utilization of intermittent electricity production from renewable energy sources, such as solar energy and wind power, as well as to strengthen the increasingly strained power grids. Nilar's battery technology is based on nickel-metal hydride (NiMH) electrochemistry with a water-based electrolyte, which results in a strong environmental, safety, and longevity profile. The Company is headquartered in Täby and the energy-efficient production facility is, since 2012, located in Gävle, where the Company's research and development also takes place.

The Nilar share is listed at Nasdaq First North Premier Growth Market, ticker NILAR. FNCA Sweden is Certified Adviser +46 8 528 00 399. For more information go to www.nilar.com.

This information is information that Nilar International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2021-11-22 23:15 CET.