STOCKHOLM, Sweden, June 04, 2002 (PRIMEZONE) -- PartnerTech and SAAB Bofors Dynamics have signed a letter of intent on the initiation of intensified cooperation in mechanics, electronics and assembly.
As part of cooperative efforts, PartnerTech is to take over operations at SAAB Bofors Dynamics machine processing center and its prototype production. Both units are situated in Karlskoga and employ approximately 130. Annual sales for the operations correspond to approximately SEK 150 M.
"We have been familiar with SAAB Bofors Dynamics' operations for a long time. This extended collaboration will further develop our operations, particularly as a result of its substantial technical content and high quality requirements. The operations in Karlskoga provide the conditions for creating an even stronger mechanics unit," said Mikael Jonson, President of PartnerTech.
"This is the perfect solution for us. It provides several advantages. We obtain a highly competent partner while we are able to streamline and focus further on our core operations," said Tomas Samuelsson, SAAB Bofors', Business Unit Manager, in a commentary on the agreement.
SAAB Bofors Dynamics is part of the SAAB Group, which is one of the world's leading high-tech companies with principal operations within the defense and aerospace and space industries. The Group covers a broad spectrum of expertise and capacities within systems integration. SAAB is listed on the O-List of Stockholmsborsen (Stockholm Exchange). In 2001, net sales were slightly less than SEK 16 billion.
PartnerTech AB develops and manufactures electronics products under contract for leading growth companies, primarily in telecom infrastructure, IT/mechatronics, and medical equipment. The Group has some 1,150 employees in Sweden and is listed on the O-List of Stockholmsborsen.
For further information, contact: Mikael Jonson, President, PartnerTech AB, mobile +46 70-678 10 01 Tomas Samuelsson, Business Unit Manager, SAAB Bofors Dynamics, tel +46 70-318 21 24.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2002/06/04/20020604BIT00690/wkr0001.doc http://www.waymaker.net/bitonline/2002/06/04/20020604BIT00690/wkr0002.pdf