STOCKHOLM, Sweden, Nov. 14, 2002 (PRIMEZONE) -- PartnerTech (Stockholm:PART) has signed an agreement with Gunnebo AB (Stockholm:GUNN) to manufacture and take part in the development of a security system for cash handling equipment. Expectations are that Gunnebo's SafePay product, which is intended primarily for the retail trade.
Following its launch today in the Nordic countries, SafePay will be introduced to continental Europe and the rest of the world. In addition to manufacturing, PartnerTech's assignment includes the development of mechanics, electronics and some of the cash handling software, as well as new product introduction. Now that development of the cash handling capability is under way, SafePay should be in full-scale production during the first quarter of 2003.
PartnerTech President Mikael Jonson commented: "What makes the order particularly appealing to us is its technical complexity and Gunnebo's focus on a segment of the market with such excellent growth potential."
According to Torbjorn Browall, CEO of Gunnebo Physical Security, "We estimate that there are 1.5 million outlets around Europe in which SafePay would be practical. The growing need to handle a variety of currencies has given rise to special new requirements. PartnerTech's extensive technical expertise and experience in the area make this kind of collaboration particularly advantageous to us."
For additional information, please call:
Mikael Jonson, President, PartnerTech AB phone +46 70-678 10 01 Torbjorn Browall, CEO Gunnebo Physical Security phone +46 31 749 90 50
PartnerTech AB develops and manufactures electronics products under contract for leading growth companies, primarily in the telecom infrastructure, IT/mechatronics, and medical equipment segments. With some 1,150 employees, the company is quoted on the O-list of the Stockholm Stock Exchange. To find out more, please visit www.partnertech.se
Gunnebo is today an international fast growing security group with currently some 8,450 employees in 106 countries located in 32 countries. The Group has sales to a further hundred markets via agents and distributors. Annual turnover amounts to some 7,300 million SEK. Gunnebo has entire disposal of the four world leading brand names within security; Chubb Safes, Fichet-Bauche, Rosengrens and Garny. To find out more, please visit www.gunnebo.se
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