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Electronics Production | October 30, 2007

NOTE acquires production capacity in Poland

NOTE has taken another step in its collaboration with Polish EMS provider Fideltronik. An agreement to acquire 50% of the shares of a new joint venture with Fideltronik has been signed.
Commenting, Arne Forslund, NOTE’s CEO and President said: “It’s really positive that we’re taking our collaboration further with Fideltronik, easily Poland’s leading privately owned EMS provider. Our joint venture will be based at Fideltronik’s current plant in Krakow and will have some 220 employees. The acquisition brings us access to additional cost-efficient production capacity in Poland that complements our other international facilities in the Baltic states and China. Apart from production capacity, this new operation will help increase NOTE’s skills in product and test development. We will further consolidate our customer offering in the growing market for complex, labour-intensive products.”

“The facility has good capacity utilization already, but our intention is to realign production progressively for NOTE’s customers exclusively, continued Mr. Forslund, “in the current year, the acquisition will have a marginal effect on sales and profits, although we expect a positive effect as early as next year by transferring production to Poland. The acquisition is fully consistent with our long-term strategy of lifting sales growth in Europe.”

“NOTE has a very competitive services offering close to the customer and end-market,” responded Zbigniew Fidelus, Fideltronik’s founder and President, “after several years of successful collaboration I’ve got a lot of confidence in NOTE as a company and long-term partner. By us now gaining a deeper collaboration, we´re well equipped for continued growth.”

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