PartnerTech acquires Nordisk Kvalitetsproduktion

PartnerTech acquires Nordisk Kvalitetsproduktion PartnerTech has acquired 100% of the shares in Nordisk Kvalitetsproduktion AB (NKAB). The purchase price is SEK 49 million, equal to 370% of adjusted equity. The acquisition is expected initially to boost PartnerTech's annual profit SEK 0.70-0.80 per share. The NKAB group, with its subsidiaries Bergslagen Mekaniska AB in Storfors and Arthur Johansson Teknik AB in Karlskoga, is a contract manufacturer specializing in precision processing, principally high-speed processing for the telecommunications industry. The group expects to reach sales of SEK 120 million in 1999 with a profit margin around 10%. NKAB has grown 25-30% a year since its founding. Further growth is expected owing to recent investment in new machinery that will be on-site in November. NKAB employs about 90 people. "This acquisition will yield synergy benefits in terms of customers and volumes but, even more, it will strengthen PartnerTech's role as a development and manufacturing partner," says PartnerTech President Mikael Jonson. The acquisition enables PartnerTech to offer high-speed processing, which is rapid and flexible processing with extremely high precision. This gives PartnerTech a strong position in the market. "PartnerTech suits us perfectly. This acquisition will give our units in Storfors and Karlskoga access to PartnerTech's marketing channels and development skills as well as their comprehensive approach," says Ingemar Rörqvist, president and majority shareholder of NKAB. PartnerTech AB (publ) develops and manufactures electronic products under contract to leading growth companies, primarily in the fields of telecommunication, information technology, and medical engineering. The company's shares are quoted on the Stockholm Stock Exchange's O list. For additional information: please contact PartnerTech's president, Mikael Jonson, at +46 70 678-1001, or NKAB's president, Ingemar Rörqvist, at +46 70 523-2994. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/10/28/19991028BIT00040/bit0001.doc http://www.bit.se/bitonline/1999/10/28/19991028BIT00040/bit0002.pdf