GÖTEBORG, Sweden--(BUSINESS WIRE)-- Regulatory News:
Semcon (STO:SEMC) has signed an order with an automotive OEM in Germany, worth more than EUR 15 million (around SEK 130 million) for development of a new car model.
The project involves expanding the current product family, which will include the development of a derivative based on an existing coupé model.
“German manufacturers are strong in the global automotive industry and it is pleasing to us that we have signed new contracts in this market. The deal also confirms the trend of automotive OEM choosing to outsource larger projects to independent engineering development companies,” says Stefan Ohlsson President, Automotive R&D.
The project, with duration of three years, starts immediately with the concept phase and enters the development phase by mid-2013. Semcon’s German business will have primary responsibility for management and implementation of the project.
Semcon is a global company active in the areas of engineering services and product information. The Group has nearly 3,000 employees with extensive experience from many different industries. We develop technologies, products, plants and information solutions along the entire development chain and also provide many services including quality control, training and methodology development. Semcon boosts customers’ sales and competitive strength by providing them with innovative solutions, design and solid engineering solutions. The Group has sales of SEK 2.5 billion and activities at more than 45 sites in Sweden, Germany, the UK, Brazil, Hungary, India, China, Spain and Russia
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Stefan Ohlsson, President Automotive R&D
+46 (0) 736 840 555
Markus Granlund, CEO Semcon AB
+46 (0) 31 721 03 11
Anders Atterling, IR & PR manager, Semcon AB
+46 (0) 704 472 819