Semcon Signs Letter of Intent with Saab Automobile


GOTEBORG, Sweden, May 19, 2003 (PRIMEZONE) -- Saab Automobile AB and Semcon AB have signed a Letter of Intent, which means that Semcon will take over the Service Development Unit that works with technical information, concentrating on service and spare parts, as well as product information. The agreement also means that the parties will form a long-term strategic partnership, with around 30-35 people being offered employment at Semcon.

The business is part of Aftersales Engineering at Saab/General Motors Europe (GME) and the aim is to build a "Centre of Expertise" for GME with Semcon. The strategic agreement is over several years and will be worth totally around SEK 400 million.

"This step establishes GME Aftersales Engineering as an important and strengthened regional presence with pan-European potential," said Dave Fleming, Director GM Europe Service Engineering.

"The deal is an important ingredient in Saab Automobile's restructuring. It is very pleasing that a Swedish supplier has proven to be the strongest and most effective partner for Saab and GM Europe," emphasised Thomas Lindskog, Director of Aftersales Saab Automobile.

"Against very stiff international competition, Semcon's long-term strategy has shown itself to be very successful for carrying out comprehensive partnership agreements. The trust that GME is placing in us is evidence of this and the deal is a further step in our ambition to become a leader in the aftermarket information sector," said Hans Johansson, Semcon AB's CEO.

For more information please contact: Thomas Lindskog, Aftersales Director, Saab Automobile AB, tel: +46 702 479 999 Christer Nilsson, Press Officer, Saab Automobile AB, tel, +46 70 603 24 12

Hans Johansson, CEO Semcon AB, tel: +46 705 914 334 Bengt Nilsson, CFO Semcon AB, tel: +46 704 472 868

This information was brought to you by Waymaker http://www.waymaker.net

The following files are available for download:

http://www.waymaker.net/bitonline/2003/05/19/20030519BIT00470/wkr0001.doc

http://www.waymaker.net/bitonline/2003/05/19/20030519BIT00470/wkr0002.pdf