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Saab MicroTech to wind up operations

Saab MicroTech to wind up operations The board of directors of Saab MicroTech AB has resolved to wind up the company's operations. Negotiations pursuant to the Swedish Employee Participation in Decision-Making Act /MBL/ are now being initiated for the company's ten employees. "It is unfortunate that we had to make this decision. The main reason is that MicroTech's business, developing micro-mechanical and micro- electrical systems, does not fall within Saab's core activities. We have tried to find another owner for the company for a long time, but have not been able to do so," says MicroTech board chairman Björn Erman. Saab MicroTech is wholly owned by Saab, and is located in Chalmer's Technology Park in Gothenburg. The company will meet its current obligations to its customers, and is expected to be wound up by roughly May 1, 2003. Saab is one of the world's leading high-technology companies, with its main operations focusing on defense, aviation and space. Saab covers a broad spectrum of competence and capabilities in systems integration. For addition information, please contact: Rolf Sandström, Industrial Cooperation , tel. 08-757 05 61, 070-565 27 70 Anna Bergenlid, Information Officer, tel. 08-757 03 83, 070-573 99 42 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/11/12/20021112BIT00860/wkr0001.doc http://www.waymaker.net/bitonline/2002/11/12/20021112BIT00860/wkr0002.pdf