UPPLANDS VASBY, Sweden, Sept. 18, 2002 (PRIMEZONE) -- The KMT Company UVA International has been appointed a new partner by one of the world's largest system suppliers within the automotive industry. The cooperation concerns precision grinders used in the production of vital engine components. Agreement regarding considerable deliveries to the customer's plants in the U.S. and in Europe has been made and initial orders have been placed. The deal will contribute considerably to UVA's turnover during the next few years.
"Our strong position in the field of precision grinding systems for fuel injection components has made it possible for us to expand into a new segment," says Johan Soderstrom, President of UVA. Both these segments finally aim for improved fuel economy and lower emissions, areas with great potential.
"We now see results from our focused efforts on the US market made by the KMT Companies," says Bjorn Kumlin, CEO of KMT. "Our subsidiary Lidkoping Machine Tools, just recently, also presented a new American partnership. The brake-throughs made on the U.S. market will strengthen our long-term growth."
Mr Bjorn Kumlin also states that for UVA the deal comes timely since some of the company's customers in the segment of fuel injection, as shown in KMT's quarterly reports, have cut down investments.
For further information, please get in touch with:
Bjorn Kumlin, CEO, Karolin Machine Tool AB Tel +46 8 594 211 50 / +46 70 587 26 60 e-mail: bjorn.kumlin@kmt.se
Johan Soderstrom, President, UVA International AB Tel +4 8 634 75 00 / + 46 733-34 75 50
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2002/09/18/20020918BIT00850/wkr0001.doc http://www.waymaker.net/bitonline/2002/09/18/20020918BIT00850/wkr0002.pdf