OEM International close down Jubo Mechatronics AB

OEM International close down Jubo Mechatronics AB OEM International AB has taken a decision to close down the affiliated company Jubo Mechatronics AB in Karlskoga and its operations in developing and production of systems for automation. The company who has its major part of the customer base within the telecom sector has during the latest years had serious profitability problems. - Extensive staff cuts and restructuring has been carried out together with attempts to find a new owner for the company. Based on the size of present demand, we judge that it is not possible for the company to create profit within a reasonable future, says Jörgen Zahlin, CEO for OEM International AB. The close down affect 11 persons in Karlskoga and will be carried out within 6 months. The effect on profit is considered as marginal and will not change the forecast published by OEM International that the profit will exceed year 2003. For further information please contact: Jörgen Zahlin, CEO, OEM International telephone + 46 709-760 695 or Jan Hultman, Vice President, telephone + 46 709-760 684 OEM International, with head office located in Tranås, Sweden, comprises 27 operating units in eight countries. The Group trades in components and systems used in industrial automation. In simple terms OEM provides an alternative way for manufacturers to sell through their own companies. OEM therefore has a responsibility for marketing and selling the products in which the company trades. Visit our website - www.oem.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/09/30/20040930BIT23310/wkr0001.pdf