The new unit is directly adjacent to the existing production facility and represents a total equipment and property investment of approximately SEK 150 million over a period of two years.
“The investment should be seen as further proof of Seco Tools’ long-term commitment to establishing a position at the absolute leading edge of technology and quality in metal cutting machining. Although the global production structure is gaining importance, closeness between production and development is critical for operations with a value added content as high as ours. The Fagersta facility will continue to function as a high-tech leading-edge unit.” says Kai Wärn, President and CEO of Seco Tools.
At a brief inauguration ceremony to be held at 2:00, speakers will include CEO Kai Wärn, Board Chairman Anders Ilstam and Västmanland County Governor Ingemar Skogö.
Fagersta, 10 November 2009
SECO TOOLS AB (publ)
The information contained herein is subject to the disclosure requirements of Seco Tools AB under the Swedish Securities Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act. This information was submitted for publication on 10 November 2009, 07:30 a.m CET.
For additional information contact Kai Wärn, President and CEO, (Tel: +46 223-401 10 ) or
Patrik Johnson, CFO, ( +46 223-401 20 . E-mail can be sent to firstname.lastname@example.org
Previously published financial information can be found under “Investor Relations & Corporate Governance” on the Seco Tools website (www.secotools.com). Seco Tools AB’s corporate registration number is 556071-1060 and the company’s address is Seco Tools AB, SE-737 82 Fagersta, Sweden. The telephone number to the Group head office is +46 223-400 00 .