Semcon Signs SEK 100m Agreements in Germany

STOCKHOLM, Sweden--Regulatory News:

Two German automotive suppliers have chosen Semcon (STO:SEMC) as their development partner for the management and engineering of new car projects. The value of the agreements amount to around SEK 100 million and they span three and five years respectively. One of the projects will be partly carried out in Sweden.

The two deals are in line with Semcon’s strategy of being a global, project-oriented development partner that undertakes larger, more complex, technical assignments.

“It’s very pleasing that we have clinched these deals. It shows that we have an attractive range of services and that our initiative in the international market is paying off,” says Stefan Ohlsson, Vice President, Semcon Automotive R&D.

A prolonged trend in the automotive industry is that companies are subcontracting all or parts of ever-larger development assignments with development partners. Semcon has continually developed tools, processes and methods so that it can run more extensive projects. We see a major demand for engineering and development partners with a complete range of services.

“The European car market is currently growing at a tremendous pace and we need to recruit a further 300 engineers,” says Björn Ströberg, acting CEO, Semcon.

Semcon is 3,900 committed individuals with a passion for product development, technical information and IT. Semcon is today in 15 countries on five continents. Semcon has annual sales of around SEK 3.4 billion (2006) and it is listed on the OMX Nordic Exchange Stockholm on the Nordic List.

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