PartnerTech AB has signed a framework agreement covering production and assembly of subsea products for Aker Solutions, a global provider of products, systems and services to the oil and gas industry.
The agreement, which further demonstrates PartnerTech’s strategic focus on the Oil & Gas industry, covers PartnerTech’s combined expertise within product development, subsea electronics, high-precision machining and assembly of complete systems. Production and assembly will initially be concentrated to the units around the North Sea; Moss, Cambridge and Karlskoga, which offer different capabilities for the Offshore industry. Revenue and first deliveries from this agreement is expected in the fourth quarter of 2014.
"We are very pleased that one of the world’s leading companies within the Offshore Oil & Gas industry has chosen us as a partner. This proves that PartnerTech’s offering to the Oil & Gas industry meets the stringent market requirements. Our extensive experience of developing and manufacturing technically advanced products as well as our high standards regarding quality, safety and traceability is of importance to companies such as Aker Solutions,” says Leif Thorwaldsson, President and CEO of PartnerTech AB.
For more information, please contact:
Leif Thorwaldsson, President and CEO, Tel: +46 (0) 40 10 26 41
PartnerTech (publ) is required to publicly disclose the information in this press release pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for public disclosure at 9.30 am on October 14th, 2014.
PartnerTech
PartnerTech is a global industrial partner offering customized solutions throughout the product lifecycle, from product development to manufacturing and aftermarket services, in a number of market areas such as MedTech and Oil&Gas. With approximately 1,400 employees at its plants in Sweden, Norway, Finland, Poland, the UK, the United States and China, PartnerTech reports annual sales of more than SEK 2.2 billion. PartnerTech AB, the parent company, has its head office in Malmö, Sweden, and is listed on the Nasdaq OMX Stockholm Exchange. For more information www.partnertech.com.
