ProfilGruppen has signed a contract for the largest business deal in the history of the Group.
The customer is new to ProfilGruppen and the agreement regards the supply of interior details based on customized aluminum profiles finally packed for the end customer. The contract lasts over a number of years starting in 2016 with an estimated turnover of over 200 million SEK per year. The contract has been signed through a separate subsidiary which is jointly owned with WIP Industries Sweden AB.
Division of ownership in the new joint venture is 70 percent for ProfilGruppen Extrusions AB and 30 percent for WIP Industries Sweden AB. WIP is a Swedish company, specialized in automation.
Following the agreement an investment in an automated production plant for about 60 million SEK will be made by the new company and external funding is secured. The investment will be made in close proximity to ProfilGruppen’s extrusion facilities in Åseda.
“We are very proud of the trust for ProfilGruppen shown by our customer by choosing us as a supplier and future partner, in particular as the deliveries are based on new technology and a fully automated production concept, new for the industry, that includes machining, finishing and packing. The contract will also contribute positively to growth in our core business. As an example we expect to recruit about 25 employees to the concerned company.” says Per Thorsell, President and CEO of ProfilGruppen.
For more information, please contact:
Per Thorsell, CEO
Mobile 46 (0)70-240 78 40
ProfilGruppen AB is a supplier of complex customised aluminium extrusions and components.
This information is of the type that ProfilGruppen AB (publ) is obligated to disclose in accordance with the Swedish Securities Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was issued for publication at 08.30 CET on April 10, 2015.