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This week, i Capital initiates coverage on Mycronic AB ("Mycronic"), listed on Nasdaq Stockholm. Headquartered in Täby, north of Stockholm, Mycronic develops, manufactures and markets high-precision production equipment for the electronics production chain. Its customers manufacture the displays, semiconductors, printed circuit boards (PCBs), and electronic assemblies inside smartphones, cars, medical devices, AI servers, and aerospace systems. 

Global leader in its niches

Mycronic employs approximately 2,770 people, operates in 13 countries, and sells in more than 50 countries through a network of agents and distributors. The group is deliberately decentralised. Four divisions run their own product development, production, and go-to-market, supported by a lean corporate centre. This structure keeps decision-making close to customers and has enabled Mycronic to hold global #1 or 2 positions in several small but profitable niches (table 1 and figure 1):