EELCEE AB increases its involvement in composites in Europe and changes name to Inxide AB
EELCEE AB in Trollhättan carried out a new share issue in February 2014 to continue its involvement in cost-efficient light composite solutions for the automotive, sports and leisure industries. The first phase of production set-up has been completed and serial delivery will be made to the first customers in the second quarter of 2014. To focus on the important industrialisation process and quickly achieve growth on the international market, sales activities have been divided, with the company's founder, Jan-Anders Månson, taking responsibility for the Korean market, and Inxide taking responsibility for the rest of the world. The company will change its name to Inxide AB after the general meeting on April 30th. The Korean activities will operate under the name EELCEE.
EELCEE SA started up in 2008 as a development spinoff from EPFL, the technical university in Lausanne. Fouiertransform became a partner in 2012 to enable the company to operate in the automotive industry in Europe and Korea. In conjunction with the takeover, EELCEE AB was created as the parent company. For two years, it has focused on employing the right expertise and has invested to build up a functioning industrial base in Sweden.
EELCEE AB’s investment in cost-efficient plastic composites, based on a number of patents and technologies, has successfully driven development projects for many industrial sectors including the automotive industry in Sweden and, via the contacts of the founder, Jan-Anders Månson, also in Korea. However, the complexity and costs of the investment on two continents has proved challenging for a company of EELCEE AB’s size, for which reason the Board has now decided to focus on Europe.
The founder, Jan-Anders Månsson, will continue to operate independently on the Korean market under the name EELCEE, and is thus leaving Inxide AB.
Inxide AB, with its production and development in Sweden, will continue its active involvement primarily in the automotive, sports and leisure industries. To further enhance the company's development, it will make new recruitments and investments in new technology. During 2014, the company began a partnership with an experienced, established partner in Tunisia to supply the sports and leisure industries.
Inxide AB, with its unique expertise, processes and patented technologies, is well placed to become an important operator in the growing composite industry and will be able to meet demand for light, cost-efficient composite solutions in the automotive, sports and leisure industries, says Björn Wessman, CEO of Inxide AB
For further information:
Björn Wessman, CEO, Inxide AB, tel. +46 709 704 326
Ulf Ahlén, Chairman of the Board of Directors of Inxide AB, tel. +46 70 312 78 77
Per Nordberg, CEO of Fouriertransform AB, tel. +46 8 410 40 601
Jan-Anders Månson, Korea activities (EELCEE), tel. +41 79 257 26 84