Skanditek’s subsidiary MYDATA gives notice of redundancy affecting 40 employees

Skanditek’s subsidiary MYDATA gives notice of redundancy affecting 40 employees, see attached press release from MYDATA automation AB.

Stockholm, April 7, 2009

SKANDITEK INDUSTRIFÖRVALTNING AB (publ)

For more information, please contact:
Patrik Tigerschiöld, CEO,
phone +46-8-614 00 20, email patrik.tigerschiold@skanditek.se

Skanditek is an industrial holding company with investments primarily in Swedish companies. The business concept is to generate sustainable and healthy value growth by means of industrial management of operational companies. The portfolio comprises ten investments in the electronics, bio/medical technology and services sectors. The portfolio companies are Bure Equity, AcadeMedia, MYDATA automation, PartnerTech, Vitrolife, CMA Microdialysis, Theducation, The Chimney Pot, H.Lundén and Aptilo. Skanditek is listed on NASDAQ OMX Stockholm, Mid Cap.

Press release

MYDATA automation gives notice of redundancy affecting 40 employees in Sweden.

Bromma, Sweden, April 7, 2009

MYDATA automation AB is today giving notice affecting 40 employees in Sweden.

The global market for surface mount equipment has continued to be weak. The financial downturn giving delayed investments decisions and difficulties for our customers to find financing have had a negative impact on MYDATA sales.

“We have during the last 12 months introduced new generations of our product platforms- MY100 and MY500. Our position is strong with a highly competitive product portfolio. The action we are taking now is to adjust our cost level to reflect the current market situation. In the coming process we will thoroughly evaluate our need for core competences and make sure we have the ability to ramp up quickly when we see that the market recovers” says Bengt Broman, CEO of MYDATA.

Notice of redundancy is affecting in total 40 out of 180 employees in Sweden. In addition to the notice the company has introduced a general cost reduction program. The programs will give full effect from the third quarter 2009. Restructuring charges will be approximately
8 MSEK during the second quarter 2009.

Information and negotiations with the local trade unions have started. All employees in Sweden have been informed.

Bengt Broman

MYDATA automation AB
Box 20155
161 02 STOCKHOLM/BROMMA
SWEDEN
Tel: +46-8-4755500
Fax: +46-8-4755501

MYDATA automation designs, manufactures and markets SMT process equipment for the electronics industry. Its mission is to be always innovating – in order to satisfy the electronic industry’s need for surface mount technology and services that meet the highest demands in terms of productivity and quality.

Based on a modular hardware and software design, MYDATA equipment has been developed for flexibility and high-yield production over time. By focusing on faster changeovers and set-ups, and on achieving the lowest possible cost per mounted component, MYDATA has built a strong customer base and long-term relationships with customers in countries throughout the world.

Sweden-based MYDATA has a worldwide sales and customer support network with subsidiaries in the Netherlands, the United Kingdom, France, the United States, Japan, China and Singapore.

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