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During the fourth quarter of 2018, NOTE distributed a Press Release about a collaboration with Plejd, a fast-growing Swedish company in the area of smart lighting. NOTE estimated that the collaboration would be worth approximately SEK 30 million at an annual rate, which was also a level established in 2019. So far this year, volumes have developed above expectations with a growth of just over 150% and now Plejd is increasing the rate further. Initiatives have been taken to build a material buffer to ensure further flexibility and growth. The conditions are good that the cooperation with Plejd will develop into one of NOTE's largest business in 2020.
”NOTE's organic growth continues to develop positively. We are growing successfully through expanded partnerships in our strong customer base, both in traditional industry and in new fast-growing application areas. We are very pleased with the development of our close collaboration with Plejd, which we see as an extremely innovative company,” says Johannes Lind-Widestam, CEO and President.
”Since we are in a very expansionary phase, NOTE has proven to be the right partner to work with. They have quickly adjusted their production capacity with the same high-quality level. The collaboration and proximity between NOTE's plant in Lund and ours in Mölndal have given good synergies, which we look very positively at,” says Mikael Blixman, COO at Plejd.