Concentric Secures Major Precision Machining Component Contract in North America
Concentric has been awarded a large contract for precision machined components in North America, with an existing global OEM customer.
This new business was won based on a 15+ years relationship with this strategically important customer, increasing Concentric’s share of wallet significantly. The components will be used in energy efficient medium and heavy-duty hydraulic products, in off-highway applications, in agricultural and construction equipment.
The new business obtained by Concentric, is expected to yield around 55 MSEK in annual sales, and deliveries are scheduled to start in the second quarter of 2024. The contract is open-ended and will span the life time of the application, which based on past experience with this customer, will be 10+ years.
Concentric’s EMP brand has been trusted by major OEMs to deliver complex machined products which meet the most challenging specifications, from its 250,000 sqft highly automated North American manufacturing facility in Escanaba, Michigan, for over three decades. This is the second significant contract win for EMP in the last 9 months, and is testament to the EMP brand and value proposition, and is as important today to our customers as it has been over the last thirty years.
“Since Concentric AB acquired EMP in October 2021, we have continued to invest in technology and resources to accelerate profitable growth in both Escanaba and Greenfield, and this win represents another key step on this exciting journey.", said Martin Kunz, Concentric President & CEO.
For further information, please contact: Lynne McCarthy (Media Contact) at Tel: +44 121 445 6545 or E-mail: lynne.mccarthy@concentricab.com
Concentric AB is an innovator in flow control and fluid power, supplying proprietary systems and components to the world’s construction equipment, truck, agricultural machinery and industrial applications end-markets. The company has a global manufacturing presence including in the USA, Germany, UK, Sweden, India and China. Concentric’s focus is to develop world class technology with innovative solutions that meet the sustainability needs of our customers. Concentric offers engine products including lubricant, coolant and fuel pumps and hydraulic products encompassing gear pumps and power packs. Concentric also offers a range of products developed for the fast-growing electric and hybrid powertrain market including, electric water and oil pumps, electric fans, thermal management systems and electro hydraulic steering. In 2022, the Group had a turnover of MSEK 4,056 and circa 1,207 employees.