VARNAMO, Sweden, Nov. 11, 2002 (PRIMEZONE) -- Finnveden (Stockholm:FVEDb) and the Volvo Car Corporation have been nominated for the 2002 Swedish Steel Prize, the international industrial award for the best design in high-strength steel. The prize was established by SSAB Tunnplat AB and is being awarded for the fourth consecutive year. The award ceremony will be held in Gothenburg on November 21.
In intense international competition, Finnveden and Volvo's newly developed seat sub-frame for the Volvo XC90 has been selected alongside three other nominees.
The designers of the technically complex steel frame have succeeded in reducing its weight considerably and have also improved crash-safety aspects. This was made possible by utilizing the characteristics of extra and ultra-high-strength steel in an innovative and efficient way.
"The considerable weight saving reduces fuel consumption, lessening impact on the environment. Combined with improved crash safety, this gives Volvo an important competitive advantage," said Martin Wallstrom, design manager in the development of the new seat sub-frame at Volvo Car Corporation.
"The nomination for the Swedish Steel Prize confirms that we have succeeded in combining an innovative approach with experience and cutting-edge expertise in materials and production technology," said Tommy Boork, Finnveden's CEO.
Finnveden AB (publ)
For further information, contact:Tommy Boork, CEO, Finnveden, +46 70-511 21 13
Finnveden is an international engineering group, with strong market positions in the automotive industry. Products include fasteners, engine components and sheet-metal components. Finnveden is listed on Stockholmsborsen (Stockholm Exchange) and has annual sales of about SEK 4.5 billion, with 3,500 employees. Additional information is available on Finnveden's website: www.finnveden.se
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
www.waymaker.net/bitonline/2002/11/11/20021111BIT00140/wkr0001.doc www.waymaker.net/bitonline/2002/11/11/20021111BIT00140/wkr0002.pdf