PartnerTech acquires Polish company - strengthens its manufacturing and design resources for the telecom industry

PartnerTech acquires Polish company - strengthens its manufacturing and design resources for the telecom industry PartnerTech is purchasing all shares in EQ Elektroniq AB and Polish company Baltic Microwave SP. Z.O.O. - a Group with 130 employees that provides contract manufacturing to the telecom industry and reports sales of more than SEK 150 million annually. The Group's production facilities are located in Spånga, Sweden and Gdynia and Sieradz in Poland. Eighty percent of production is carried out in Poland and the remainder in Sweden. According to PartnerTech CEO Mikael Jonson, "The acquisition reinforces our competence and supplements our resources, particularly in the area of radio frequency. It is very important for us to be able to start competitive production in Poland in this way." The Swedish-Polish group of companies produces various kinds of cabling and prototypes, as well as assembling finished products, primarily for the telecom industry. The companies possess a high level of technical know-how in both electronics and mechanics. The Group's research and design resources are of the highest quality - thus providing PartnerTech with the opportunity to assist its customers more effectively, primarily in the area of radio frequency. Jonson stresses that the acquisition will strengthen Partner Tech not only in manufacturing, but also as a design partner: "Our skills in both design and manufacturing provide our customers with extra value. Our goal is to be a competence partner throughout the entire value chain. The acquisition is strategic and part of our greater focus on internationalization. Our aim is to accompany our customers as they expand geographically. We started in Atlanta last year, and are looking at other countries as well." Dariusz Gasinski, President of EQ Elektroniq, welcomes PartnerTech as shareholder: "PartnerTech suits us perfectly. The affiliation will enhance our breadth and strength, which is good news for both our customers and employees." The acquisition is being financed through liquid funds, as well as own shares. PartnerTech expects the acquisition to immediately have a positive effect on its earnings per share. PartnerTech AB designs and manufactures electronics products under contract for leading growth companies, primarily in telecom infrastructure, IT/mechatronics, and medical equipment. Prior to the acquisition, the company had approximately 900 employees. PartnerTech is quoted on the Attract 40 list of the Stockholm Stock Exchange. For additional information, please contact: Mikael Jonson, CEO, PartnerTech AB, mobile +46 70 678 1001 Dariusz Gasinski, President, EQ Elektroniq AB, mobile +46 70 540 5011 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/03/09/20010309BIT00100/bit0001.doc http://www.bit.se/bitonline/2001/03/09/20010309BIT00100/bit0001.pdf