KUNGSBACKA, Sweden, March 09, 2005 (PRIMEZONE) -- In line with our strategy to follow key customers worldwide Elanders will install a plant in Peking to manufacture manuals for the telecom and automotive industries. Production start is planned for Q4 2005.
During 2006 we expect to produce 30 million manuals in China and have 150 employees. "Elanders started planning this a year ago and we are now ready to take a further step in our international expansion. We are pleased that our customers require our services and plan to build up a factory like the one in Zalalovo in Hungary. China is an interesting growth market with very few Western graphic industries", states Patrick Holm, President and CEO of Elanders AB.
We expect to fill most of the initial need for production equipment in Beijing by shifting existing equipment within the Group.
Establishment in China is calculated to charge Group profit by MSEK 10-15 in 2005 but operations in Beijing are expected to be profitable from 2006.
For further information please contact: Patrick Holm President and CEO Elanders AB Phone +46 31 750 00 00 Mobile +46 708 210 410 Mats Almgren CFO Elanders AB Phone +46 750 00 00 Mobile +46 705 181 936
Elanders AB (publ) is the leading Nordic infomedia company and provides publication solutions for any kind of information. Elanders offers individual solutions for the entire value chain in the publishing process through its comprehensive concept Master Vendor. Turnover in 2004 was approximately MSEK 1,800 and including our subsidiaries in five countries we have about 1,400 employees. The company is listed on the Stockholm Stock Exchange O list. For further information, please see www.elanders.se
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