GWS Systems Oy, part of Finnish Oy G.W. Sohlberg and FlexLink Automation Oy, part of Swedish FlexLink AB, have signed a Letter of Intent regarding the acquisition by FlexLink of the FPS (Flexible Production Systems) Division of GWS Systems Oy. Both units are suppliers of automated assembly equipment and are located in the Jyväskylä area in Finland, where operations will continue. The transaction, which is to be finalized within April, is subject to board approvals.

The intention of the acquisition is to transfer the operations of the FPS Division in Muurame to FlexLink Automation Oy. The FPS Division had a turnover of nearly 10 million Euro and 90 employees in 2001. FlexLink will ensure that customers are extended continued high service levels. Negotiations with the employees' unions have started.

After a period of rapid growth in investments in production capacity, manufacturers of electronic and telecom components are now consolidating, and few orders are presently being placed for new equipment. Manufacturers are looking for suppliers of a reasonable size, who have an international presence in order to serve their local production units. The parties have recognized that combined resources give better opportunities to develop the business in the coming years.

FlexLink Automation Oy is the development and supply facility for assembly systems within FlexLink. The acquisition will strengthen FlexLink' s offer by adding significant competence and new customers to the existing activity.

FlexLink started in 1980 and is a leading global supplier of innovative automation solutions to assembly and manufacturing industries. FlexLink, based in Göteborg, Sweden employs 550 people in 20 companies and is represented in 50 countries. In 2001, group turnover was 139 million Euro. 

Göteborg, April 4, 2002
FlexLink AB

For further information, please contact:

Göran Nystedt
Direktör, Applied Technology Division
+46-31-337 3137
+46-705-37 3137

Mats Nilsson
Corporate Communication
+46-31-337 1220
+46-703-77 1220

FlexLink AB, 415 50 Göteborg. 
+46-31-337 3100
Fax +46-31-337 2233