NovaCast and Volvo Car Corporation sign agreement on die deal worth over 30 MSEK

NovaCast and Volvo Car Corporation sign agreement on die deal worth over
30 MSEK

NovaCast Technologies' subsidiary Swepart Verktyg has signed a supplier
agreement with Volvo Car Corporation regarding stamping dies for a new
Volvo car model. The agreement includes production of approximately 25
stamping dies and stamping of pre-series details in connection with
delivery.

The project will commence immediately with engineering within SwePart
Verktyg and Camito Technology Center. This will also include analyzing
the share of dies appropriate for Camito technology, as well as casting
simulations and planning. Casting of the stamping dies will begin at
Camito Technology Center after the summer and final delivery of the
complete dies is planned to begin during the second half of 2011.

 

The order is worth in excess of 30 MSEK and is the largest single order
that SwePart  Verktyg has received during the year.

 

“Volvo Cars is one of our 10 high priority customers and it is both
important and satisfying to have received this order in Sweden. It also
validates our new marketing strategy”, says Hans Svensson, CEO NovaCast
Technologies, in a comment to today's business deal.

 

 

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

 

 www.novacast.se                                       

  

 

NovaCast Technologies, listed on the NASDAQ OMX Stockholm Small Cap list
(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 and stamping automotive body components in a
considerably shorter time than traditional dies. Through die
manufacturer SwePart Verktyg the group has expertise within the whole
value chain for the production and sales of stamping dies.