PartnerTech signs framework agreement with Toyota Material Handling Europe
PartnerTech and Toyota Material Handling Europe, part of the global leading provider of material handling equipment, have signed a framework agreement covering production of electronics and electromechanical modules for forklifts.
The agreement is an expansion of the existing cooperation between PartnerTech and Toyota Material Handling in Sweden to cover Toyota Material Handling across Europe. The agreement includes product development, prototyping, production and aftermarket services and involves PartnerTech’s units in Åtvidaberg, Malmö and Sieradz. The initial value is estimated at approximately SEK 30 million in the first quarter of 2015, including existing business.
"The agreement with Toyota Material Handling Europe further increases the cooperation between our companies on a long-term basis. It also proves that our ability to support our customers with a complete range of services throughout the entire product lifecycle is extremely attractive.” says Leif Thorwaldsson, President and CEO of PartnerTech AB.
“With this Framework Agreement, Toyota Material Handling Europe and PartnerTech takes the next important step in its already long term relation. The new alignment of business terms on a European level is also fully in line with the overall sourcing strategy of Toyota Material Handling Europe and opens the doors for further business growth,” says Magnus G Andersson, Purchasing Director TMHE WH Supply.
For more information, please contact:
Leif Thorwaldsson, President and CEO, PartnerTech AB, Tel: +46 70 5832650
PartnerTech (publ) is required to publicly disclose the information in this press release pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for public disclosure at 9.00 am on February 23rd , 2015.
PartnerTech is a global industrial partner offering customized solutions throughout the product lifecycle, from product development to manufacturing and aftermarket services, in a number of market areas such as MedTech and Oil&Gas. With approximately 1,400 employees at its plants in Sweden, Norway, Finland, Poland, the UK, the United States and China, PartnerTech reports annual sales of more than SEK 2.2 billion. PartnerTech AB , the parent company, has its head office in Malmö, Sweden, and is listed on the Nasdaq OMX Stockholm Exchange. For more information www.partnertech.com.