December 10, 2012 at 03:00 AM EST
SinterCast achieves record installation revenue in 2012
 
  • New installations secured in China, Japan and Mexico 

  • System 3000 upgrade at the Teksid foundry in Mexico 

  • Expanded production base, with 11 of SinterCast`s 32 installations in Asia 

  • Continued positive outlook for new installation commitments in 2013 

[Stockholm, 10 December 2012] - Following the record of six new installations set in 2011, the year-on-year installation revenue for 2012 is currently estimated to increase by 14%, corresponding to a new record of SEK 9.0 million.  The increased revenue in 2012, despite fewer installations, is due the higher technical content of the Mini-System 3000 installations in China and Japan and, in particular, the first-ever installation of the System 3000 Plus technology at the Tupy foundry in Saltillo, Mexico.  Introduced at the 2012 AGM, the System 3000 Plus provides increased automation, production capacity, productivity and process security.  The new Tupy installation effectively provides the equivalent content of two standard installations, in order to support the demand of the largest-ever CGI series production order with more than 300,000 Engine Equivalents per year and 9.2 hours of CGI production every day. The System 3000 Plus will be shipped to Mexico before year-end, for installation during the first quarter and start of series production during 2013.

In addition to the three new installations, the Teksid group has ordered a full refurbishment of its existing SinterCast process control system, for its foundry in Monclova, Mexico, including an upgrade to the current System 3000 standard.  The upgrade has been ordered to support the preparation for series production of commercial vehicle and industrial power cylinder head programmes that are currently under development.  An automated wirefeeder was also sold to a European commercial vehicle OEM to increase the efficiency of ongoing product development activities for heavy duty engines in the OEM`s captive foundry.  

"The increased installation activity in 2011 and 2012 has been motivated by increased CGI product development in the passenger vehicle, commercial vehicle and industrial power sectors - the foundries are responding to the needs of their customers" said Dr Steve Dawson, President & CEO of SinterCast.  "The demand for CGI continues to grow and we are busier than ever with new installation negotiations in Europe, Asia and the Americas.  These ongoing discussions provide the basis for a positive installation outlook for 2013."

For more information:

Dr Steve Dawson
President & CEO
SinterCast AB (publ)
Tel:   +46 8 660 7750
e-mail: steve.dawson@sintercast.com

SinterCast is the world`s leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). With at least 75% higher tensile strength, 45% higher stiffness and approximately double the fatigue strength of conventional grey cast iron and aluminium, CGI allows engine designers to improve performance, fuel economy and durability while reducing engine weight, noise and emissions. The SinterCast technology is used for the production of more than 50 CGI components, ranging from 2 kg to 17 tonnes, all using the same proven process control technology.  The end-users of SinterCast-CGI components include Aston Martin, Audi, Cameron Compression, Caterpillar, Chrysler, DAF Trucks, Ford, Ford-Otosan, General Electric Transportation Systems, General Motors, Hyundai, Jaguar, Jeep, Kia, Lancia, Land Rover, MAN, Navistar, Porsche, PSA Peugeot-Citroën, Renault, Rolls-Royce Power Engineering, Scania, Toyota, VM Motori, Volkswagen, Volvo and Waukesha Engine. The SinterCast share is quoted on the Small Cap segment of the NASDAQ OMX stock exchange (Stockholmsbörsen: SINT). For more information: www.sintercast.com

- END -




This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: SinterCast via Thomson Reuters ONE

HUG#1663500
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here