SwePart in Tyringe gives notice of dismissal and begins competence development program

NovaCast Technologies' subsidiary SwePart Verktyg in Tyringe gives notice of
dismissal to 25 employees of which 20 in production and 5 office workers. 
The notice is a preparatory measure to create balance between resources and
demands from the automotive industry during 2009. 


SwePart's sales organization is currently working on several large potential
die business deals with introductory production during the latter part of the
year. There are also a number of possible deals for the near future. 
The current strain on prices is extremely high and many customers are forced to
make non-rational decisions where price goes before such factors as quality and
delivery assurance. 

Parallel to the notices, SwePart will in consultation with local unions seek
various ways of overcoming the probable downturn through competence development
programs. The training will focus on development and training around the
product mix change that SwePart is currently conducting. The aim is to create
long-term competitive die production, among others by introducing the
cost-effective Camito technology of refined tool and die products cast in one
solid piece from their sister company, Camito Technology Center. 


NovaCast Technologies, listed on the OMX Nordic Exchange (NCAS B), develops and
markets enhanced castings for the production of car body parts, as well as
software for methoding, simulating and process control for more efficient
production processes to the global automotive industry and its subcontractors.
With the Camito technology enhanced castings are manufactured in one solid
piece for the production of dies for forming stamping automotive body
components in a considerably shorter time than traditional dies. Through die
manufacturer SwePart the group has expertise within the whole value chain for
the production and sales of stamping dies. 

For further information from NovaCast contact Hans Svensson, CEO NovaCast 
Technologies AB, +46 705 652 250. 

More information is also available on www.novacast.se.