Opcon's subsidiary Laminova wins large GM order

Opcon's subsidiary Laminova wins large GM order Opcon's subsidiary Laminova wins large GM order and breaks into the Asian auto market Laminova Production AB, Stockholm, a subsidiary of Opcon AB, has won an order for its car engine intercoolers from German vehicle supplier, Georg Fischer. Laminova's intercoolers will be included in the General Motors Saturn models and in the new Chevrolet Cobalt. The order is worth around SEK 6 million per year up to 2007, or over SEK 20 million in total."This is a breakthrough for our intercoolers and it comes alongside several other projects that we have great hopes for in the future," says Laminova's managing director, Thomas Johansson. Laminova has also signed a Letter of Intent with carmaker Proton of Malaysia concerning deliveries of oil coolers. These deliveries are expected to start at the end of 2004. The order is worth SEK 6.5 million per year up to and including 2008, or over SEK 26 million in total. The joint value of the two deals is thus over SEK 46 million. Thomas Johansson expects increased investment and eventual recruitment of new staff both in Stockholm and at the Laminova production site in Åmål. Georg Fischer makes inlet manifolds and will mount Laminova's intercoolers in the manifold prior to delivery to the General Motors factory in Kaiserslautern, Germany, where GM's Echotech L850 platform engine is built. The finished engines will be sent to General Motors in Detroit, USA. The project team has designed the intercooler especially for the L850 engine. Laminovas intercooler was choosen ahead of competing products because of the efficiency in relation to the compact format, which simplified installation in the cramped engine compartment of the new car models. The intercooler is used to supercharge the engine and efficiently reduce the temperature of incoming air. The gain is higher engine performance and lower emissions of greenhouse gases. The Laminova intercooler includes a cooler core based on a Swedish patent. Entry into Asia In Malaysia, Proton makes cars primarily for the Asian market, but also exports some cars to Europe. One of Proton's four-cylinder 1600 cc engines will be equipped with the Laminova oil cooler. The engine is already in production, but will be upgraded to increase performance and will therefore require more efficient oil cooling. The decisive factor is the low oil pressure fall of our oil cooler, which is essential for the sensitive variable valve in the engine," explains Thomas Johansson. "The Letter of Intent is a significant breakthrough for our oil cooler and represents an entry ticket to the expanding Asian market." .................................... For more information, please contact: Thomas Johansson, managing director Laminova, tel +46 8-594 765 41, mobile +46 70-537 50 17 Sven G. Oskarsson, CEO Opcon, tel +46 532-611 30, mobile +46 70-625 81 21 Please visit our website at www.opconab.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/19/20041004BIT20450/wkr0001.pdf