FinnvedenBulten wins two strategic contracts for interior structures
PRESS RELEASE |GOTHENBURG, 5 October 2011.
FinnvedenBulten, division Finnveden Metal Structures has signed two separate contracts in the automotive sector for the delivery of cross car beams, firmly cementing the division’s strategy of growing in steel and light metal structures. The contracts are worth in the region of EUR 3 million and EUR 4 million a year respectively.
“These contracts strengthen our position as a supplier of interior structures for the automotive industry, while also further broadening our offering. Both orders are for existing customers, and we are delighted to be given greater confidence for more business together. We look forward to continuing our excellent collaboration,” says Johan Nordgren, Vice President Sales & Engineering.
The contracts are fully in line with Finnveden Metal Structures’ strategic direction, and strengthen the company’s position as a supplier of interior structures to the automotive industry. Both contracts relate to the same type of application, but they differ in choice of material.
One of the orders relates to die cast cross car beams in magnesium, which will be made at the Group’s foundry in Bielsko-Biala, Poland. Production will begin this year and continue for approximately three years.
The other order relates to cross car beams in steel, and the components for these will be made at the Group’s sheet metal factory in Bielsko-Biala, Poland, starting in 2013 and continuing for around six years.
Alongside previous contracts, this makes Finnveden Metal Structures a supplier of this type of interior structure in magnesium, steel and mixed materials, which demonstrates unique expertise and flexibility in materials and manufacturing.
For further information, please contact:
Johan Nordgren, Vice President Sales & Engineering, Finnveden Metal Structures
Tel: + 46 (0)31-734 59 00, e-mail: media@finnvedenbulten.com
NB
The information in this announcement is required to be disclosed by FinnvedenBulten AB (publ) under the Swedish Securities Markets Act (Sw. lag om värdepappersmarknaden).
FinnvedenBulten develops and manages industrial businesses, offering products, technical solutions and systems in metallic materials. The Group operates as a business partner to international customers in the engineering industry, primarily the automotive industry. FinnvedenBulten is structured into two divisions – Finnveden Metal Structures and Bulten – both with strong positions in their respective customer segments. FinnvedenBulten is listed on NASDAQ OMX Stockholm. Further information at www.finnvedenbulten.com.
Division Finnveden Metal Structures manufactures products in steel, magnesium and aluminium, or a combination of those materials. The main manufacturing processes are stamping, die casting and joining. The components include interior, chassis and body parts for the automotive industry, as well as customised components for general industry, which account for a small but growing share of sales.