ASIMCO Technologies Signs License and Manufacturing Agreement with Haldex

(Exclusive rights to distribute high-output twin compressor in China, Taiwan, Hong Kong and Macau)

BEJING, CHINA, July 25 -- ASIMCO Technologies Limited today announced it has signed a License and Manufacturing Agreement with Haldex AB to become the exclusive supplier of a new high-output, twin-cylinder compressor designed by Haldex. The agreement is through a subsidiary of ASIMCO and Haldex's Air Management Division.

The contract value is estimated to exceed $75 million and first deliveries will begin late in 2005. In addition to supplying the twin-cylinder compressor to Haldex for distribution outside the Greater China market, ASIMCO Technologies will have the exclusive rights to distribute the product in China, Taiwan and Hong Kong and Macau.

Haldex, a solutions provider to the global vehicle industry that is focused on products that enhance safety, environment and dynamics, previously announced it contracted with a major global engine manufacturer to supply air compressors for its North American production.

"This is an important strategic step for Haldex," said Joakim Olsson, Chief Executive Officer of Haldex. "It combines the areas of leadership of both Haldex and ASIMCO to facilitate the Haldex strategy to supply the global heavy-truck market with complete air-brake systems from compressors to foundation brakes and friction materials."

Boasting the highest drive-thru torque capacity and highest turbo-charged inlet pressure capability in the industry, the new compressor design meets the demanding present and future requirements of the modern heavy-truck industry and will enable ASIMCO Technologies to provide state-of-the-art compressor technology to its China customers and Haldex.

"The agreement with Haldex represents a significant step for ASIMCO Technologies, because it enables us to build upon our dominant position in compressors in the China market and expand into the global market," said Jack Perkowski, Chairman and Chief Executive Officer of ASIMCO Technologies. "Our goal is to be recognized as the global leader in all of our products, and the partnership with Haldex will enable us to achieve this goal in compressors."

In 2004, ASIMCO Technologies produced 640,000 air compressors and had an estimated 65% share of the China OEM market for air compressors. It is the principal supplier of air compressors to all of the major diesel engine companies in China and is one of the largest manufacturers of air compressors in the world.

About ASIMCO Technologies Limited

ASIMCO Technologies (http://www.asimco.com/ ) produces a broad range of powertrain, chassis components, diesel fuel injection and NVH products for both light and heavy duty applications. ASIMCO operates 18 manufacturing facilities and a network of 36 sales offices in China, three manufacturing facilities and a sales office in the United States, and a sales office in the United Kingdom.

  ASIMCO Technologies Limited is privately held and based in Beijing, China.

  About Haldex

Haldex (http://www.haldex.com/ ), headquartered in Stockholm, Sweden, is a provider of proprietary and innovative solutions to the global vehicle industry, with focus on products in vehicles that enhance safety, environment and vehicle dynamics. Haldex is listed on the Stockholm Stock Exchange and has annual sales of nearly 7 billion SEK with 4,400 employees.