STOCKHOLM, Sweden, Jan. 9, 2003 (PRIMEZONE) -- Haldex (Other OTC:HLDXF) Traction invests 17 million SEK in another two machining centers in the Landskrona factory.
Since October last year, two machining centers and annexed service units are in operation at the Traction Systems division factory in Landskrona for production of AWD systems. That represented a capital expenditure of 25 million SEK and was a first step of establishing in-house machining capacity. The machines are used to manufacture one of the strategically most important components in Haldex AWD system. The component is functionally important and is customized for each customer. The quality and flexibility demands are very high.
In view of expected growth in the sales of Haldex AWD systems, it has been decided to invest in another two machining centers including tools. The purchasing process of the machines has started. The capital expenditure is calculated at 17 million SEK and the first machine is planned to be in operation during the 4th quarter 2003 and the second the 1st half year 2004. In total, the four machines will create 8 new jobs in Landskrona.
"The investment is an important stepping stone in our growth strategy and contributes with lower costs and enhanced flexibility in the production, all of which strengthens our competitiveness," says Ulf Ahlen, President of Haldex Traction.
Haldex Traction Systems is a division in the Haldex group and develops, manufactures and markets electronically controlled four-wheel-drive systems (AWD systems).
Haldex (www.haldex.com) is a vehicle technology company with proprietary systems and products for applications in the areas of vehicle dynamics & motion control, performance & safety, and fuel & environmental efficiency. The product range includes brake systems for heavy vehicles, power systems for off-road vehicles, four-wheel-drive systems for light vehicles, and specialty spring wire products for combustion engines.
For further information contact
Ulf Ahlen, President Traction Systems AB, phone +46 418 47 65 00, or Claes Warnander, President and CEO of the Haldex group, phone +46 8 545 049 50.
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