STOCKHOLM, Sweden, March 12, 2004 (PRIMEZONE) -- Gunnebo's President and CEO Bjarne Holmqvist inaugurated yesterday the Group's enlarged and modernised factory in Halol, Gujurat, in northwest India. The MSEK 20 investment will quadruple the factory's capacity and raise the quality of its production to international standards. This will greatly strengthen Gunnebo's position on the Indian market and means that products made at the Halol factory can be exported to other Asian and European markets.
The inauguration was attended by all 420 factory employees, over 100 invited customers from the Bank of India, BNP-Paribas, ING Bank and others, and around 20 journalists from a range of influential papers including Business India and Economic Times.
"This MSEK 20 MEUR 2.2 investment will allow Gunnebo to continue strengthening its position on the growing Indian security market. The capacity of the factory has been quadrupled, and its products will now satisfy international standards in terms of quality, design and finish," says Gunnebo President and CEO Bjarne Holmqvist. "The investment also strengthens Gunnebo Steelage's position for the export of physical security products to other markets in Asia and Europe. It is also gratifying to confirm that the extension and modernisation project for the Halol factory was completed on schedule and well within budget."
"This investment will allow Gunnebo Steelage to strengthen its market position as the leading supplier of complete security equipment in India," adds investment initiative-taker Deepak Khetrapal, the current Divisional Manager of Gunnebo Asia Pacific and former President of Gunnebo Steelage. "It has enabled us to invest in the latest production equipment and given us access to Gunnebo's other, more advanced, product range. Quality is assured by virtue of the fact that we're the only security company in India that is ISO 9001 certificated."
The inauguration continues today with a conference held by Gunnebo Steelage in Mumbai for an additional 100-plus customers.
See the enclosed Indian press release and photos from the inauguration.
Picture 1 Caption: Gunnebo President and CEO Bjarne Holmqvist and Gunnebo Physical Security's Divisional Manager Thorbjorn Browall together inaugurate Gunnebo's enlarged and modernised factory in Halol in front of all the factory's employees, some 100 customers, journalists, official representatives from the province Gujarat, and Sweden's Charge d'affaires in India, Niclas Trouve.
Picture 2 Caption: Gunnebo President and CEO Bjarne Holmqvist unveils a plaque with Gunnebo Steelage President Naresh Hosangady.
Pictures available at: http://www.newsonline.nu/imgway/index.asp?pmid=36054
Steelage Industries in brief:
Gunnebo acquired Gunnebo Steelage in 2000 together with the acquisition of Chubb Safes. Gunnebo Steelage has a turnover of some MSEK 120 and 1 100 employees. The business is divided into three strategic business units:
- Physical Security Division, who among others manufactures and markets Fire & Burglar Resistant Safes, Safe Deposit Lockers, Fire Resisting Cabinets , Vault Doors, Safes for homes and hotels and Bank Automation Products
- Minimax Division, who among others manufactures and markets Portable Fire Extinguishers, Hydrants, Trailer Pumps and Fire Tenders
- Projects Division, who among others manufactures and markets Fire detection, Alarm and Suppression Systems, FM 200 Systems, Sprinkler systems and Vesda Systems
GUNNEBO AB (publ) Group Communications
For more information please contact: Bjarne Holmqvist, President and CEO, Gunnebo AB on +46 (0) 708 40 03 70 or +46 (0) 705 83 64 45, or Naresh Hosangady, Marketing Director Gunnebo Steelage on +91 98 193 047 60 or Janerik Dimming, director of information, Gunnebo AB on +46 (0) 705 83 68 03 (mobile), or at janerik.dimming@gunnebo.se.
Gunnebo is today an international fast growing security group with 110 companies located in 32 countries. The Group has sales to a further hundred markets via agents and distributors. Annual turnover amounts to some MEUR 770. Gunnebo's security products mainly include fire and burglar resistant safes, security products for banks and cash handling, electronic security systems, fire protection, entrance control and access control, alarm centres and indoor and outdoor perimeter protection. Gunnebo has at its disposal some of the world's leading brand names in security: Chubbsafes, Fichet-Bauche, Rosengrens, Ritzenthaler, Garny and Leicher.
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The following files are available for download:
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Appendix:
http://www.waymaker.net/bitonline/2004/03/12/20040312BIT00200/wkr0002.pdf
Pictures:
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