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Beijer Electronics divested the Vehicle business to Israeli company Micronet

SALT LAKE CITY, UTAH. 7 May 2014 - Beijer Electronics has earlier this week divested the Vehicle business to Israeli company Micronet. The divestment is in line with the company's strategy, to focus on HMIs for the industrial business segment. The divestment of the Vehicle business will allow Beijer Electronics to invest even more resources in product development to ensure a state of the art offer in the HMIs for industrial applications.

As of May 7th Beijer Electronics Inc. has a new Managing Director, Mark Hendel. Mr. Hendel has a long experience from international management positions in the industry, most recently as Managing Director the Beijer Electronics group company, Westermo USA. Mr. Hendel will continue in his role as Managing Director Westemo USA.

Previous Managing Director, Barry Hobbs, has decided to follow the Vehicle business and become Managing Director for Micronet USA.

"Divesting the Vehicle business is the right thing to do from a strategic perspective. We want to focus our resources to drive the development of our core business within Industrial HMIs. Micronet has their core business in the Vehicle area and will be able to integrate the business and benefit from several synergies. This transaction will create value for Beijer Electronics, our employees and for our customers."

Says Fredrik Jönsson, CEO and President of Beijer Electronics AB.

Beijer Electronics is a fast growing technology company with extensive experience of industrial automation and robust data communication. The company develops and markets competitive products and solutions with focus on the user. Since its start-up in 1981, Beijer Electronics has evolved into a multinational group with offices in 22 countries and with sales of 1.4 billion SEK in 2013. Beijer Electronics is listed on the NASDAQ OMX Nordic Exchange Stockholm's Small Cap list under the ticker BELE. www.beijerelectronics.se

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