SEK 100 million in annual growth for PartnerTech: When CashGuard Ensures Growth Capacity and Chooses PartnerTech

SEK 100 million in annual growth for PartnerTech: When CashGuard Ensures Growth Capacity and Chooses PartnerTech PartnerTech has signed an agreement with CashGuard, the cash handling company, to become a principal supplier of its products. The assignment, which involves both new product introduction and production, will boost PartnerTech's annual sales by some SEK 100 million. "With PartnerTech as a supplier, we're confident of meeting our growth targets and continuing to offer top-quality products," says CashGuard CEO Anders Eklund. CashGuard is a leading provider of secure systems for safe, efficient cash handling. The company has installed approximately 5,000 systems at Swedish and Norwegian retail outlets, post offices and banks. CashGuard entered into a number of large, key contracts in the spring. "The fact that PartnerTech is accustomed to handling rapid volume fluctuations without sacrificing quality is comforting to us at this point," continues Eklund. "We view this as a strategic cooperation aimed at eventually taking advantage of PartnerTech's total service offering. With PartnerTech as a partner, we can ensure our production capacity for ongoing expansion." According to PartnerTech CEO Mikael Jonson, "The security and flexibility requirements associated with cash handling are increasingly stringent. So it's exciting to be a partner in CashGuard's strong development on the market." The transfer of production and the new product introduction of cash handling equipment will begin right away. Serial production is scheduled for the late autumn. For additional information, please feel free to call: Mikael Jonson, CEO, PartnerTech AB, +46 70-678 10 01 Anders Eklund, CEO, CashGuard AB (publ), +46 8-732 22 00 CashGuard develops and markets products and services for secure cash handling and logistics. The company sells both directly and through distributors to Swedish and international businesses, particularly retail outlets, post offices, banks and other service providers. With some 60 employees, the company reported sales of SEK 61 million in 2003. The CashGuard share is listed on the O list of the Stockholm Stock Exchange. PartnerTech develops and manufactures products under contract for leading companies, primarily in telecommunications, IT, the engineering sector and medical technology. The company (www.partnertech.com), which has approximately 1,300 employees, reported sales of more than SEK 1.3 billion in 2003 and is quoted on the O list of the Stockholm Stock Exchange. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/08/12/20040812BIT20190/wkr0001.pdf In pdf http://www.waymaker.net/bitonline/2004/08/12/20040812BIT20190/wkr0003.doc In Word