PartnerTech Åtvidaberg AB petitions for sequestration

PartnerTech Åtvidaberg AB petitions for sequestration

As previously announced, PartnerTech Åtvidaberg AB, a subsidiary of PartnerTech
AB, has entered into arbitration proceedings against Swe-Dish Satellite Systems
AB concerning accounts payable on completed deliveries.

In connection with termination of the contractual relationship between
PartnerTech Åtvidaberg AB and Swe-Dish Satellite Systems AB, the two companies
agreed that certain disputed matters would be arbitrated. Swe-Dish Satellite
Systems AB has objections, primarily to invoices from PartnerTech Åtvidaberg AB
totaling approximately SEK 13 million and has lodged a counterclaim against
PartnerTech Åtvidaberg AB for approximately SEK 19 million.

After an agreement was reached to arbitrate the claims, Swe-Dish Satellite
Systems AB offset its alleged counterclaim against other deliveries that
PartnerTech Åtvidaberg AB completed during the contractual relationship between
the parties that has now terminated. Including VAT, the total order value of the
latter deliveries totals approximately SEK 20 million.

Including VAT, PartnerTech Åtvidaberg's total claim on Swe-Dish Satellite
Systems currently totals approximately SEK 34 million. 

In view of the situation that has arisen, PartnerTech Åtvidaberg AB has
petitioned for sequestration of the assets of Swe-Dish Satellite Systems AB to
assure payment of their claims.

For additional information, please phone: 
Mikael Jonson, CEO, PartnerTech AB, +46 (0)706 781 001
Jonas Arkestad, CFO, PartnerTech AB, +46 (0)706 591 510


PartnerTech develops and manufactures products under contract for leading
companies, primarily in telecommunications, IT, the engineering industry and
medical technology. With approximately 2,000 employees at its plants in Sweden,
Norway, Finland, Poland, the UK, the United States and China, PartnerTech
reported sales of approximately SEK 3 billion for the past 12 months.
PartnerTech AB (www.partnertech.com), the parent company, has its head office in
Malmö and is listed on the Stockholm Stock Exchange.