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Simpro buy shares i Noca AS

Simpro Holding AS has today agreed with Q-Free ASA and Noca Holding AS on the transfer of their shares in the electronics manufacturer Noca AS. The transfer comes to a total of 12,300 shares representing 53.48% stake.

Simpro Holding AS already has 100% ownership in the electronics manufacturer Simpro AS and 20% ownership in the product development company Prevas Development AS.

– Simpro see this assignment as part of our growth strategy and ambition to be the preferred supplier of electronics manufacturing and electro-mechanical assembly. With the level of activity we see in the Trøndelag region now, we prefer that production is done locally and thus strengthen suppliers in Trøndelag, says Erik Dragset, CEO of Simpro.

The total market potential will after the transfer be significantly larger than the current revenues of the respective companies indicate. -This will open new market opportunities both domestically and internationally. We will now be able to take on more complex and comprehensive projects for both existing and new customers. At the same time we will increase our flexibility and become more competitive – which is very important in an industry where the tough competition from low cost countries, continues Dragset.

In connection with electronics manufacturing and electro-mechanical assembly there is a need for a high share of subcontracting, and Dragset said finally that the transfer could have positive ripple effects for local subcontractors

Contacts

Erik Dragset
CEO
Simpro Holding AS
+47 901 62 348
erik.dragset@simpro.no

Roar Østbø
CFO
Q-Free ASA
+47 932 45 175
roar.ostbo@q-free.com

About Simpro

Simpro is a leader in the production of high-tech electronic and electro-mechanical components for offshore, defence, industrial and MedTec. Simpro can be your manufacturing partner throughout the value chain, offering the full spectrum from prototypes to series production with assembly. The company has 52 employees and is located Løkken Verk.

About Noca1717

Noca AS is a modern production and service provider of electronics and electronics development. Noca delivers industrialization services, prototype production, series production and assembly on behalf of the businesses and entrepreneurs in high-tech industries. The company has 45 employees and is located in Trondheim.

About Q-Free

Q-Free is a leading global provider of products and solutions in Road User Charging (tolling) and Advanced Transportation Management. The company has approximately 400 employees in 17 countries after this transaction and representation on all continents. The company is headquartered in Trondheim. Q-Free is listed on the Oslo Stock Exchange with the ticker QFR.