Semcon strengthens its position on the Norwegian market

Semcon is strengthening its presence in Norway by increasing ownership in
technology company Kongsberg Devotek AS to 97 per cent. This means that Devotek
will be fully integrated into Semcon’s structure, focusing on further market
shares on the Norwegian market.
A share issue of NOK 5 million will enable Semcon to increase its ownership to
97 per cent of the shares in the company. Semcon already owned 30 per cent of
the shares in the company. This investment is part of Semcon’s strategic
expansion on the Norwegian market, where Devotek’s range and delivery model is
well suited to Semcon’s structure.

“This means that we can take the next key step on the Norwegian market. Devotek
has specialist expertise in our prioritized areas of technology and a sharp
offer in complex product development, which is well suited to Semcon’s global
delivery model. Our know-how and processes allow us to create synergies,
facilitating the right conditions for greater market shares on the Nordic
market,” says Olof Christensson, President business area Engineering Services
Nordic.

Devotek provides technical expertise in project form, mainly towards customers
in areas like oil and gas, maritime, automotive and industry in general. The
company reported sales of NOK 114 million in 2014, has 75 employees and its head
office is in Kongsberg, Norway.

“It’s pleasing that we will now be an integrated part of Semcon. This means that
we’ll have a strong owner and be able to benefit from Semcon’s global customers
and delivery capacity,” says Frode Island Bergan, CEO at Kongsberg Devotek.

Semcon is already active in Norway through the Product Information business area
and other activities in Sweden, the UK and India providing services to Norwegian
industrial customers. Devotek will provide Semcon with yet another platform,
which is seen as a condition for continued expansion on a market with great
potential.
For more information, please contact:
Olof Christensson, President business area, Engineering Services Nordic, Semcon
Tel: +46 (0)705-133 608, email: olof.christensson@semcon.com

Per Nilsson, Communication- and Marketing Director, Semcon
Tel: +46 (0)739-737 200, email: per.nilsson@semcon.com
Semcon is an international technology company in the engineering services and
product information sectors. We have around 3,000 employees with extensive
experience from many different industries. We develop technology, products,
plant and information solutions along the entire development chain and also
provide many services and products in areas such as quality control, training
and methodology development. We contribute to our customers’ competitive
strength by providing innovative solutions, design and solid engineering
expertise. The Group has sales of about SEK 2.7 billion in 2014 and activities
at more than 40 sites in Sweden, Germany, the UK, Brazil, China, Hungary, India,
Spain and Norway.