Note's CEO: 'improve profitability is 2010 objective'

"Our order book at the end of the period was up over 15% on the corresponding point of last year. However, our profitability was far from satisfactory. We need to increase our capacity utilisation, and as reported in January, we decided to focus our volume production on one plant at Pärnu, Estonia, and one in Tangxia, China. In Sweden, we are merging our different units into a single company with joint management. Year to date, we have started the process of closing down production at Skänninge, Sweden and Tauragé, Lithuania", Göran Jansson, Acting CEO & President at Swedish EMS-provider Note said. "The objective is in 2010 to take savings and efficiency measures improving profitability by over SEK 50 million in annualised terms. Considering the market’s current shortages of electronic components, volume progress in the immediate future is hard to assess. The goal is for Note to grow, and that this growth will be with high efficiency and profitability. We have started a new, tough rationalization programme, and major challenges still lie ahead", states Göran Jansson, Acting CEO and President.