Semcon has today been informed that Volvo Car Corporation will cancel about 100 assignments from Semcon.

Semcon has on our own initiative and due to the financial situation of Volvo Car Corporation (VCC), prepared for a decrease in business volume and gradually reduced with approx 200 assignments at VCC during 2008. The information that was presented today was anticipated and well in line with our assumptions.

Our new global structure and successful business within industry, medical life science, offshore and the energy sector, enable us to have good chance in finding new assignments for our employees. The reduced order volume is equivalent to a turnover of approx. SEK 100 million on an annual basis. This is to be seen in relation to that we, in Brazil only, during the last two weeks has been awarded with orders from two customers for a value of SEK 100 million.

We clearly see that the essential need for engineering services now and in the future maintain high, both in Sweden and in the rest of Europe.

For more information, please contact:
Kjell Nilsson, CEO Semcon AB, +46 (0)702 60 01 21
Anders Atterling, Investor Relations Manager Semcon AB, +46 (0)704 47 28 19

Semcon discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. This information was submitted for publication at 13.15 on October 8, 2008.

About Us

Semcon is an international technology company that develops products based on human needs and behaviours. We strengthen our customers’ competitiveness by always starting from the end user, because the person who knows most about the user’s needs creates the best products and the clearest benefits to humans. Semcon collaborates mainly with companies in the automotive, industry, energy and life science sectors. With more than 2000 specialised employees, Semcon has the ability to take care of the entire product development cycle, from strategy and technology development to design and product information. Semcon was founded in Sweden in 1980 and has offices in over 30 locations in eight different countries. In 2016, the Group reported annual sales of SEK 1.8 billion. Read more on


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