Haldex wins new orders in USA for valve spring wire products worth about 50 million Swedish Krona on a yearly basis
Haldex wins new orders in USA for valve spring wire products worth about 50 million Swedish Krona on a yearly basis Haldex Garphyttan Wire, a division in the Haldex Group, has made a first breakthrough with Japanese car manufacturers in USA (so called transplants), and will in September 2001 start delivering high tensile valve spring wire for Toyota. Through another newly awarded business in USA, Haldex Garphyttan has won a contract to deliver ovate-shaped valve spring wire products to engines within General Motors with delivery start May 2001. Both contracts run for a 4-year period with a possibility of extension and expansion. The yearly order value for both new businesses together is about 50 million Swedish Krona. Since Haldex started production of valve spring wire products in USA 1997, sales and market shares have increased on the North American market. A 50% expansion of the production capacity has just been completed and opens up for further growth on the US market. Haldex Garphyttan Wire is a world-leading supplier of advanced spring wire products for combustion engines. The activity is concentrated on applications with extreme performance demands, e.g. valve springs in engines where Haldex Garphyttan has achieved a world market share of approximately 35% Haldex is an innovator in vehicle technology and supplies proprietary products for trucks, cars and industrial vehicles on a global basis. The Group is listed on the Stockholm Stock Exchange and has annual sales exceeding 6 billion Swedish Krona with 4,250 employees. For further information contact Claes Warnander CEO, or Lennart Hammargren, CFO Haldex AB (phone +46 8 678 72 70). April 20, 2001 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/20/20010420BIT00200/bit0001.doc http://www.bit.se/bitonline/2001/04/20/20010420BIT00200/bit0001.pdf