Skanditek's subsidiary MYDATA gives notice of redundancy affecting 24 employees

Skanditek's subsidiary MYDATA gives notice of redundancy affecting 24 employees

Skanditek's subsidiary MYDATA gives notice of redundancy affecting 24 employees,
see attached press release from MYDATA automation AB or www.mydata.com.

Stockholm, November 5, 2008

SKANDITEK INDUSTRIFÖRVALTNING AB (publ)


For more information, please contact:

Patrik Tigerschiöld, CEO,
phone +46-8-614 00 20, email patrik.tigerschiold@skanditek.se

Press release

MYDATA automation gives notice of redundancy affecting 24 employees in Sweden.

Bromma, Sverige, 5 november 2008

MYDATA automation AB is today giving notice affecting 24 employees in Sweden. 

The global market for surface mount equipment has been weak for a period of
time. The financial turmoil has escalated the downturn and it is right now
difficult to assess the future market development.  The negative trends have had
an impact on MYDATA sales, but our overall sales development has been stronger
than the market thanks to our new product platforms - the MY100-series and the
MY500-series. 

“Our position is strong and we believe we can continue to serve the market well
in the future. The actions we are taking now are to adjust our cost level to
reflect the current market situation. In the coming process we will thoroughly
evaluate our need for core competences and make sure we have the ability to ramp
up the production quickly when we see that the market stabilizes” says Bengt
Broman, CEO of MYDATA.

Notice of redundancy is affecting in total 24 out of 200 employees in Sweden.
The given notice will have a limited impact on ongoing strategic product
development projects and will adjust the production capacity to expected sales
volumes. In addition to the notice the company has introduced a general OPEX
reduction program. The latter program will give full effect from the first
quarter 2009.

Information and negotiations with the local trade unions have started. All
employees in Sweden have been informed.

Bengt Broman
MYDATA automation AB
Box 20155
161 02 STOCKHOLM/BROMMA
SWEDEN
Tel: +46-8-4755500
Fax: +46-8-4755501
bengt.broman@mydata.se

Skanditek is an industrial holding company owning stock in Swedish companies.
The business concept is to be an active and long-term shareholder and to further
the portfolio companies' development by providing industrial and financial
competence at board and management level. The portfolio comprises of 9 companies
within technology, biotechnology and services. The major holdings are in Bure
Equity, MYDATA automation, PartnerTech and Vitrolife. Skanditek is listed on the
OMX Nordic Exchange Midcap List.

MYDATA automation designs, manufactures and markets SMT process equipment for
the electronics industry. Its mission is to be always innovating - in order to
satisfy the electronic industry's need for surface mount technology and services
that meet the highest demands in terms of productivity and quality.

Based on a modular hardware and software design, MYDATA equipment has been
developed for flexibility and high-yield production over time. By focusing on
faster changeovers and set-ups, and on achieving the lowest possible cost per
mounted component, MYDATA has built a strong customer base and long-term
relationships with customers in countries throughout the world.

Sweden-based MYDATA has a worldwide sales and customer support network with
subsidiaries in the Netherlands, the United Kingdom, France, the United States,
Japan, China and Singapore.

Copyright MYDATA automation© 2008 Privacy policy

The information contained in this press release is such that Skanditek is
obligated to publish in accordance with the Securities Exchange and Clearing
Operations Act and the Financial Instruments Trading Act. The information was
submitted for publishing on November 5, 2008 at 15:30 CET.