Accra in agreement with Pullman of the US
Accra in agreement with Pullman of the US Öjebyn, Sweden 09 10 2001 · Accra Teknik AB has signed a contract with Pullman Industry Inc., worth at least SEK 95 m. · The deal gives Pullman exclusivity on specific Accra product areas. · The deal marks a breakthrough for Accra on the US market. Accra Teknik AB has signed a contract with US sub-contractor Pullman Inc., a SEK 95 m deal that the Swedish enterprise has been working on for three years. Accra has patented processes and possesses unique methods for roll-forming and hardening steel. The resulting high- strength, lightweight, roll-formed steel extrusions are specifically suitable as safety components for the automotive industry. Example products include roll bars, side-impact protection and car bumpers. Accra's headquarters are in Öjebyn, northern Sweden; the enterprise currently has 20 staff with estimated sales of SEK 20 m in 2001. Pullman Industry Inc. was founded in 1950 in Michigan, US and is a specialist supplier of roll-formed extrusions to the US automotive industry; it has estimated revenues of over SEK 1.4 bn this year. This new agreement applies to cars, conferring Pullman exclusive rights to specific Accra products for a limited period. Accra will also retain the option to sell directly to the US market, and in this context, the truck market is particularly promising. Accra has also secured volume orders from Volvo and Porsche in 2001; this latest deal means that Accra is now progressing towards establishing a presence in the US. Göran Berglund, Accra's Senior Technology Manager, commented: " This further colloborates that the automotive industry finds Accra's technology attractive." Accra Teknik AB's Chief Executive, Bernt Lindbäck, commented: "Accra is in a highly expansive phase; this deal with Pullman implies the rapid release of our unique products on the US market." Del Stanley, Pullman Industries, Inc.'s CEO responded: "Pullman's commitment signals a sustained robust expansion initiative. We see very substantial market potential for Accra's products, and are looking forward to active participation in the development of this technology." For more information please contact: Bernt Lindbäck, +46 (0)911 66534 or +46 (0)70 516 6534. About Accra Teknik AB Accra, with registered offices in Öjebyn, northern Sweden, utilises unique methods to shape and harden steel; the resulting roll-formed steel extrusions are strong in relation to their weight, and are particularly suited as safety components for the automotive industry. Apart from its founders, Accra's major owners are international investment corporation 3i, the Swedish Industrial Development Fund, and the Swedish Metalworkers' Union, through its investment enterprise, Metallica. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/09/20011009BIT00080/bit0001.doc http://www.waymaker.net/bitonline/2001/10/09/20011009BIT00080/bit0002.pdf