PartnerTech obtains new orders from the defense industry
PartnerTech has obtained new orders worth a total of approximately SEK 100 million from three large customers in the defense industry. Production will take place at the PartnerTech plant in Karlskoga for delivery in 2011.
For a long time PartnerTech plant in Karlskoga has manufactured mechanical components for all of these customers. The new orders will significantly boost volumes at the plant in 2011.
“Because customers in the defense industry often rely on long-term contracts, its business cycle differs somewhat from other industries,” says Leif Thorwaldsson, President and CEO of PartnerTech. “The recession hit it later, and these new orders are an additional sign of the recovery that became visible in the third quarter of 2010. Of course, the orders are also further evidence of the confidence that our customers have in our Karlskoga plant and its production facilities.”
For additional information, feel free to call:
Leif Thorwaldsson, President and CEO, +46 (0)40 10 26 41
Kjell Edholm, Managing Director, PartnerTech Karlskoga, +46 (0)586 24 60 11
Marielle Noble, Communications and Investor Relations Manager, +46 (0)40 10 26 43
PartnerTech develops and manufactures products under contract for leading companies, primarily in Defense and Maritime, Industry, Information Technology, MedTech & Instrumentation, CleanTech and Point of Sale Applications. With almost 1,300 employees at its plants in Sweden, Norway, Finland, Poland, the UK, the United States and China, PartnerTech reports annual sales of more than SEK 2 billion. PartnerTech AB (www.partnertech.com), the parent company, has its head office in Vellinge, Sweden, and is listed on the Nasdaq OMX Stockholm Exchange.
PartnerTech AB, corporate identity no. 556251-3308
Disclosures reported to the Swedish Financial Supervisory Authority (Finansinspektionen)