Nefab signs agreement with Huawei and construct plant in southern China
Nefab signs agreement with Huawei and construct plant in southern China Nefab has signed a cooperation agreement with the Chinese telecom equipment manufacturer Huawei. With its main plant in Shenzhen in Guangdong Province in southern China, Huawei is today the market leader in the Chinese market in fixed networks. The agreement, which primarily covers Huawei's export packaging, means estimated addition sales for Nefab of about SEK 25 M annually. It is the partners' intention that Nefab will supply Huawei with complete packaging solutions, including design and consulting services, also in other markets in which Huawei is active. Accordingly, the agreement means that Nefab will become a supplier to Huawei in Brazil. Nefab is already established as the market leader in packaging for mobile networks in the Chinese market. Through this agreement, Nefab also achieves a strong position with regard to fixed networks. Against the background of the rapid growth on the Chinese market, it has been decided to construct a production unit in Shenzhen in southern China. The unit is expected to be in operation during summer 2001. Nefab already has a plant in Wuxi, outside Shanghai. "As a result of this agreement, we further strengthen our position as a global market leader with regard to packaging for the telecom industry," says Lars-Åke Rydh, President of Nefab. "By offering the customer a customized complete packaging solution rather than an individual product, we help to reduce total logistics costs. Of course, this is welcome in a situation when all players on the market are reviewing their cost structures," continues Rydh. For further information, contact CEO Lars-Åke Rydh, tel.+46-70-592 45 70, e-mail lars-ake.rydh@nefab.se or CFO Anna Stålenbring, tel +46-70-814 23 44, e-mail anna.stalenbring@nefab.se Jönköping 2001-03-22 Lars-Åke Rydh President and CEO Information about Nefab Nefab delivers complete packaging solutions to international industrial groups, primarily within the telecom equipment and automotive Nefab has its own companies in Europe, North and South America and Asia. Annual sales are about SEK 1.1 BN. Nefab is listed on the OM Stockholm Exchange. Nefab AB (publ) Östra Storgatan 20 . P O Box 2184 . SE-550 02 Jönköping . Sweden Telephone +46(0)36-345050 . Telefax +46(0)36-150444. Organization No. 556226-8143 Homepage: www.nefab.com . E-mail: info@nefab.se The registered office of the board of directors is in Ovanåker, Sweden ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/03/22/20010322BIT01240/bit0002.doc http://www.bit.se/bitonline/2001/03/22/20010322BIT01240/bit0002.pdf