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Electronics Production | March 08, 2007

ElektronikGruppen acquires Profec Tech

Sweden based electronics group ElektronikGruppen has acquired all shares in the Finnish group Profec Technologies Oy.
The acquired company is a supplier of customized and standardized inductive components to international manufacturers of telecommunication equipment and power supplies. The company will be consolidated in the Products business area as of 1 March, 2007, and the acquisition is estimated to have a favorable impact on earnings per share by some SEK 0.50 during the current year.

The acquisition is in line with ElektronikGruppen's strategy for growth within proprietary products. Profec Technologies possesses in-depth know-how in the field of highly automated production and besides strengthening the presence in Finland the acquisition provides ElektronikGruppen with some economies of scale within such areas as inductive components.

Profec Technologies, with 49 employees and sales of about SEK 70 million in 2006, experienced sharp growth last year. The Profec Technologies Group is based in Nummela, Finland, and has subsidiaries established in Sweden, the UK, Russia and Sri Lanka. All operations are certified in accordance with ISO 9001.

“Profec Technologies is ideally suited to our operations. The Group has well-established brands and is active in markets where ElektronikGruppen has clear growth ambitions, primarily Finland and the United Kingdom. As a result of a bilateral free-trade agreement, the operations in Sri Lanka will also constitute an effective link in the supply chain for ElektronikGruppen's customers in India. Together with our newly acquired company, Trondicap Oy, we are now establishing a strong presence in the Finnish market and significant operations in the Baltic countries and Russia," says Johan Ålander, President and Chief Executive Officer of ElektronikGruppen.

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