Strategic order for world-leading telecoms company won by TurnIT subsidiary LAC
Strategic order for world-leading telecoms company won by TurnIT subsidiary LAC LAC, part of TurnIT Supplies, has won a strategic order for the supply of components for radio frequency filtration in multilayer-technology. The order value is SEK 12 million, and the estimated annual volume is almost SEK 60 million. LAC Elektronik AB is an established supplier and developer of components for the telecommunications and other industries throughout the world. Its products are customized to meet clients' individual requirements, and are used, for example, in the radio frequency area, signal filtration and boost functions for circuits for mobile telephony and datacoms. Other applications include digital WAN and mobile telephony networks, as well as fixed access networks. LAC's largest customers are Dell, Hewlett-Packard, Compaq, Ericsson, Nokia, IBM, Telia, Tele2, Teracom, SCI, Celestica and Flextronics. LAC supplies globally to clients in Singapore, Brazil, Mexico, the USA, the UK, France, Switzerland, the Netherlands, Finland, Denmark and Sweden. Production is carried out in external units in China, Taiwan, Malaysia, Mexico, Spain, Italy, Switzerland and the UK. The company is highly profitable, with an operating margin well over 10 %. LAC's sales in the current year are expected to increase to about SEK 140 million. "This order represents a strategic breakthrough for deliveries in a whole new area", comments LAC's President, Torbjörn Heidergren. "As part of the contract, we have been requested to develop seven variants of similar components from other units for the same company. This is quite clearly a strategic order of major significance." TurnIT acquired LAC on 25 February 2000. One of TurnIT's goals is to develop TurnIT Supplies into Scandinavia's e-commerce based supplier of IT accessories. Stockholm 11 May 2000 TurnIT AB For further information Torbjörn Heidergren, President, LAC Elektronik, Tel: + 46 (0)8 587 504 00, Mobile: + 46 (0)7 05-81 80 00, tor@lac.nu Peter Enström, President, TurnIT AB, Tel: + 46 (0)8 545 877 30, Mobile: + 46 (0)7 05-74 99 82, peter.enstrom@turnit.se Rickard Linderoth, Information Director, TurnIT AB, Tel: + 46 (0)8 545 877 45, Mobile: + 46 (0)7 09-65 02 98, rickard.linderoth@turnit.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/07/26/20000726BIT00550/bit0001.doc http://www.bit.se/bitonline/2000/07/26/20000726BIT00550/bit0002.pdf