PartnerTech plans to divest unit in Poole, UK PartnerTech signed an agreement today to divest PartnerTech Poole Limited ("Poole" below), one of its three British subsidiaries. The business in Poole, which manufactures printed circuit boards with a focus on local customers, accounts for approximately 3% of total group sales. The reason for the divestment is that the business, following changes, is operating at a loss and lacks strategic significance, given that other subsidiaries also manufacture printed circuit boards. Thus, the divestment is in line with PartnerTech's strategy of streamlining its industrial structure and making it more cost-effective. Because the business is being acquired by its current management, the agreement is conditional on approval of a general meeting pursuant to Chapter 16 of the Companies Act. As a result, an extraordinary general meeting will be held for that purpose in January 2009. The divestment, which is expected to be completed in the first quarter of 2009, is not deemed to have a significant impact on PartnerTech's financial position or earnings. For additional information, feel free to call: Marielle Noble, IR/Communications Manager, +46 40-102640 or +46 706-546735 Jonas Arkestad, CFO, +46 40-102640 or +46 706-591510 Rune Glavare, President and CEO, +46 706-202454 PartnerTech PartnerTech develops and manufactures products under contract for leading companies, primarily in telecommunications, IT, engineering and medical technology. With some 1,700 employees at its plants in Sweden, Norway, Finland, Poland, the UK, the United States and China, PartnerTech reports annual sales of approximately SEK 2.6 billion. PartnerTech AB (www.partnertech.com), the parent company, is headquartered in Malmö and listed on the OMX Nordic Exchange Stockholm. PartnerTech AB, corporate identity no. 556251-3308 Södra Tullgatan 3, SE-211 40 Malmö, Sweden info@partnertech.se Disclosures reported to the Swedish Financial Supervisory Authority (Finansinspektionen)
PartnerTech plans to divest unit in Poole, UK
| Source: PartnerTech AB