Semcon forms a development company jointly with the Ford and Volvo Groups

Semcon forms a development company jointly with the Ford and Volvo Groups The automotive industry's production systems will be developed within Euromation AB in future with the aid of advanced VR simulation and analytical and computational technology. Turnover within Euromation AB is currently SEK 210 million and is considered to have strong future growth potential. In addition to Semcon, the following companies are involved with the new venture: the Volvo Car Corporation (VCC) within the Ford Group and the Volvo Truck Component Corporation (VTCC) and Volvo Technology Transfer (VTT) from the Volvo Group. "The formation of the development and maintenance company Euuromation AB will strengthen Semcon's position as a partner within the automotive industry. We now have the resources to compete for several international automotive commissions," says Björn Magnusson, responsible for business development at Semcon. In the new company Semcon will be involved in high-tech development projects to develop more and more advanced production systems. Here collaboration with Semcon will mean that strategic competence is linked to business in the long term whilst new methods and modes of working such as VR simulation (virtual reality) and advanced analytical and computational systems are quickly introduced. "The creation of long-term customer relations and the supply of services with high technical competence and level of service has once again proved to be a winning concept," says Björn Magnusson. We are proud that the Ford and Volvo Groups have made Semcon their first choice in yet another long- term strategic partnership. Semcon's ambition for the speedy development within advanced production technology has been realised through the formation of Euromation AB, whilst new opportunities for involvement in comprehensive development projects within the automotive industry globally have increased. For more information please contact: Björn Magnusson, Business Development, Semcon, Tel: +46-31-721 03 10; Mobile: +46-705-125299; e-mail: bjorn.magnusson@semcon.se Bengt Nilsson, Head of Finance, Tel: +46-31-721 03 11; Mobile: +46-704-47 28 68; e-mail: bengt.nilsson@semcon.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/06/20000606BIT00520/bit0001.doc http://www.bit.se/bitonline/2000/06/06/20000606BIT00520/bit0002.pdf