OEM International AB merges electronics businesses

Nordic Business Report, March 31, 2005

NORDIC BUSINESS REPORT-31 March 2005-OEM International AB merges electronics businesses(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com

The Swedish industrial automation components supplier OEM International AB said on Thursday (31 March) that it would merge its three electronics manufacturing companies OEM Component AB, Egevo Elektronik AB and Pronesto AB to form OEM Electronics AB.

The merger will create a strong partner to the manufacturing industry with a total turnover of over SEK240m.

"We will have the big company's resources but keep the special competence within respective business fields. At the same time, we will increase our possibilities to follow our customers abroad," said Urban Malm, business director of OEM International.

In connection with the merger OEM International has also founded sister companies for OEM Electronics in Finland and Poland.

One Swedish krona (SEK) is worth approximately 0.08 British pounds (GBP).

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))