Semcon — Regulatory Filings 2007

Oct 22, 2007

Semcon signs SEK 100 m agreements in Germany

Two German automotive suppliers have chosen Semcon as their development partner for the management and engineering of new car projects. The value of the agreements amount to around SEK 100 million and they span three and five years respectively. One of the projects will be partly carried out in Sweden.

The two deals are in line with Semcon's strategy of being a global, project-oriented development partner that undertakes larger, more complex, technical assignments.

"It's very pleasing that we have clinched these deals. It shows that we have an attractive range of services and that our initiative in the international market is paying off," says Stefan Ohlsson, Vice President, Semcon Automotive R&D.

A prolonged trend in the automotive industry is that companies are subcontracting all or parts of ever-larger development assignments with development partners. Semcon has continually developed tools, processes and methods so that it can run more extensive projects. We see a major demand for engineering and development partners with a complete range of services.

"The European car market is currently growing at a tremendous pace and we need to recruit a further 300 engineers," says Björn Ströberg, acting CEO, Semcon.

For more information, please contact: Björn Strömberg, Acting CEO Semcon AB, +46 (0)708 35 44 80 Anders Atterling, IR Manager Semcon AB, +46 (0)704 47 28 19