Establishes a sales company in Singapore
The Board of Directors' of Nefab AB has decided to establish a sales company in Singapore to work the market in Singapore/Malaysia. Since 1994, the market has been worked by a distributor. In connection with the establishment in China the market efforts have been intensified. At present, Nefab delivers packaging to customers in the region corresponding to approximately MSEK 5 annually. One of the biggest customers is Ericsson in Kuala Lumpur. Establishment will take place in cooperation with local partners. Nefab's share of the company will be 60%. For further information, please contact Lars-Åke Rydh, tel +46-70-592 45 70. Jönköping May 3rd 1999. Lars-Åke Rydh Group Managing Director Information about Nefab The packaging company Nefab, established in 1949, is market leader in the area of transport packaging manufactured from sheet material and steel. Nefab operates within two business areas - NEFAB ExPak (collapsible export packaging system) and NEFAB RePak (reusable transport-packaging and storage system). Customers are leading international industrial groups primarily within the telecom equipment and automotive industry. Nefab has production units in nine countries - Sweden, Germany, England, France, Spain, the US, Canada, China and Brazil. The products are sold through subsidiaries in fifteen countries which, in addition to the manufacturing countries, are Norway, Denmark, Finland, Netherlands/Belgium and Italy. Nefab products are marketed in Switzerland, Austria, Portugal ,Ireland, Japan, Singapore, South Korea and Australia through co-operation agreements with local companies. Nefab has its own purchasing organization in Russia where plywood, the most important raw material, is procured. The Nefab share is listed on the OTC-list of the Stockholm Stock Exchange ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/05/03/19990503BIT00670/bit0001.doc http://www.bit.se/bitonline/1999/05/03/19990503BIT00670/bit0002.pdf