NovaCast offers financing solutions for stamping dies through new company, Camito Financial Services

NovaCast offers financing solutions for stamping dies through new company,
Camito Financial Services 

The financial and automotive crises have among others resulted in a current
demand for financing solutions for heavy investments in stamping dies. Camito
has developed a model that could release large resources to the automotive
industry. Camito is currently negotiating further development of this service
with several potential financial partners. The platform for this new sales
support business activity will be the new Camito Financial Services AB (under
construction). 

A new car project normally involves at least 500 MSEK in costs for stamping
dies. This need quickly increases to billions, even within smaller automotive
groups, when several new models are developed during one year. The major part of
these investments is currently in the balance sheet of automotive companies,
impairing the important key ratios for their rating, which in turn steers the
costs for their funding. 

This financing concept is a further step in Camito's long-term partner strategy
that ties Camito to expertise, service and products to strengthen their total
concept. The technology and marketing cooperation with Sandvik Coromant
regarding machining technology, with Uddeholm regarding steel and material
development, as well as with the Dutch Gemco in foundry design and construction
are examples of partnerships within this strategy.

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.