Accra in Agreement With Pullman of the US

    OJEBYN, Sweden--Oct. 9, 2001--

    -- Accra Teknik AB has signed a contract with Pullman Industry Inc., worth at least SEK 95 m.
    -- The deal gives Pullman exclusivity on specific Accra product areas.
    -- The deal marks a breakthrough for Accra on the US market.

    Accra Teknik AB has signed a contract with US sub-contractor Pullman Inc., a SEK 95 m deal that the Swedish enterprise has been working on for three years.
    Accra has patented processes and possesses unique methods for roll-forming and hardening steel. The resulting high- strength, lightweight, roll-formed steel extrusions are specifically suitable as safety components for the automotive industry. Example products include roll bars, side-impact protection and car bumpers. Accra's headquarters are in Ojebyn, northern Sweden; the enterprise currently has 20 staff with estimated sales of SEK 20 m in 2001.
    Pullman Industry Inc. was founded in 1950 in Michigan, US and is a specialist supplier of roll-formed extrusions to the US automotive industry; it has estimated revenues of over SEK 1.4 bn this year.
    This new agreement applies to cars, conferring Pullman exclusive rights to specific Accra products for a limited period. Accra will also retain the option to sell directly to the US market, and in this context, the truck market is particularly promising. Accra has also secured volume orders from Volvo and Porsche in 2001; this latest deal means that Accra is now progressing towards establishing a presence in the US. Goran Berglund, Accra's Senior Technology Manager, commented: "This further colloborates that the automotive industry finds Accra's technology attractive."
    Accra Teknik AB's Chief Executive, Bernt Lindback, commented: "Accra is in a highly expansive phase; this deal with Pullman implies the rapid release of our unique products on the US market."
    Del Stanley, Pullman Industries, Inc.'s CEO, responded: "Pullman's commitment signals a sustained robust expansion initiative. We see very substantial market potential for Accra's products, and are looking forward to active participation in the development of this technology."