PartnerTech Acquires Contractual Manufacturer HP Tronic AB

PartnerTech Acquires Contractual Manufacturer HP Tronic AB "An excellent and well-managed business that complements us and enables us to grow within the electronics field!" says PartnerTech CEO Mikael Jonson about the business acquisition of the electronics company HP Tronic AB. HP Tronic has sales of SEK 100 million with operations in Ljungby and Lund. PartnerTech's acquisition will make it possible for both businesses to increase their capacity and sales to existing customers. HP Tronic is a contractual manufacturer of industrial electronics and electrotechnology that specializes in, for instance, equipment for test and control systems. The business is run in Ljungby and Lund. "Our businesses and customer bases complement each other in an excellent way," says PartnerTech CEO Mikael Jonson. HP Tronic has experienced significant growth during a number of years, with forecasted net sales for 1999 of SEK 100 million. Pre- tax profit is estimated at SEK 7 - 8 million. This acquisition will already during 1999 give some positive impact on PartnerTechs Profit per share. The takeover will take place on July 1, 1999. PartnerTech AB (public listed) develops and manufactures electronic products under contract for leading growth companies, mainly within telecommunications, information technology and medical technology. The company is quoted on the Swedish Stock Exchange and has had first quarter net sales of SEK 188 million, which is a 56% increase compared with the same period the year before. Additional information can be provided by PartnerTech CEO Mikael Jonson, tel: 070-678 1001. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/06/15/19990709BIT00020/bit0001.doc http://www.bit.se/bitonline/1999/06/15/19990709BIT00020/bit0002.pdf