Electronics Production | September 15, 2011
Hanza and Note – side by side
Swedish EMS-provider Hanza is receiving lots of attention in the Nordic region. After a period of growing in silence the pace has picked up and the turnover has passed SEK 1 billion (EUR 108 million). Hanza closed in on EMS-provider Note
Hanza has since the start co-existed alongside Note, one of the largest contract manufacturers in Sweden. The other well-known Swedish EMS-provider would be Partnertech. Note was started by Erik Stenfors and industrialist Sten Dybeck, the latter acting as Chairman of the Board at Note. In a coup, Sten Dybeck was removed from Note. Erik Stenfors joined him to start Hanza in 2008. Both companies were hit hard by the crisis. Note - once being among the big-players in the EMS-world - was forced to make drastic changes to its structure. Many units closed down, both in Sweden and abroad. For newly started Hanza the struggle was a mere fight for survival. When the crisis ended, Hanza came out on top. Strategic acquisitions allowed them to grow at a fast pace. Their strategy is however a bit different to Note: Instead of being strictly EMS, Hanza promotes itself as a full-service provider. A 'Non-Stop-Shop'. Earlier this year Hanza, received a strategic order from Swedish company Saab Defense. Hanza also took over one of Saab's sites complete with staff and equipment. Recently, Hanza also acquired Finnish Elektrometalli Group, a company working with sheet metal processing. Meanwhile, Note was also freed from the shackles of the 2008-2009 events. The numbers are looking brighter with operating profits reaching MSEK 35.8 for the first half of this year (EUR 4 million). Erik Stenfors, CEO Hanza commented in an interview with Swedish magazine Dagens industri: "We are now about equal size [compared to Note], but we have perhaps a better chance for continued growth. But Note is not a competitor, it is a good thing that they are at last doing well."