Electronics Production |
NOTE reports lower results
Sweden based EMS provider Note has reported its financial performance for January-March. Sales were around €45.4 million (€45.2 million). Operating profit was €1.4 million (€2.6 million). Profit was reduced by costs of just over €1 million for ongoing restructuring.
Strategic change process continues — measures implemented to transfer labour-intensive production and sourcing services to low-cost countries, downsizing headcount in Sweden by over 150 (20%) in the year. UK acquisition — new Nearsourcing Centre for long-term sales growth started in the UK. Swedish mechanical engineering services acquisition — valuable know-how added close to customers to develop advanced mechanical prototypes and for shorter production runs.
