| Press Release For Immediate Distribution | ||
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SinterCast Mini-System 3000 installation during third quarter of 2012
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Extended Technical Service Agreement established for best practice CGI production
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Product development for agriculture and industrial power engine applications
[Stockholm, 2 July 2012] - YTO Group Corporation, also known as China First Tractor Works, the leading supplier of tractors and harvesters in China with more than 75% of the Chinese market share for large tractors, has entered into a technology supply agreement with the Swedish process control specialist SinterCast for the development of Compacted Graphite Iron (CGI) products and series production processes. Under the terms of the technology supply agreement, SinterCast will install a Mini-System 3000 process control system and related hardware to the YTO Group foundry located in Louyang, China. Following the commissioning of the control system during the third quarter of 2012, SinterCast will also provide extended technical support for up to two years to ensure a successful CGI product development phase and to establish a robust CGI series production process.
"This agreement with YTO marks our fourth installation in the important Chinese market and provides an opportunity to establish a new benchmark in the global agricultural sector" said Dr Steve Dawson, President & CEO of SinterCast. "Approximately 10% of SinterCast's current series production volume is derived from components other than automotive cylinder blocks and heads. We look forward to supporting the CGI product development activities at YTO, leading toward series production, and increasing our presence in the agricultural and industrial power industries."
| Dr. Steve Dawson | |
| President & CEO | |
| SinterCast AB (publ) | |
| Tel: | +46 8 660 7750 |
| e-mail: | steve.dawson@sintercast.com |
Founded in 1955, YTO Group Corporation, also known as China First Tractor Works, manufactures and supplies agricultural machinery, construction machinery, power machinery, vehicles, mobile power stations and diesel engines. YTO was the first producer of tractors, road rollers, and cross-country trucks in China and currently commands more than 75% of China's large tractor market. The YTO brand has been awarded China's Top Brand and its products are now sold in more than 100 countries and regions around the world. For more information: www.yto.com.cn (http://www.yto.com.cn/)
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 40 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, Caterpillar, Chrysler, DAF Trucks, Ford, Ford-Otosan, General Electric Transportation Systems, General Motors, Hyundai, Jaguar, Kia, Land Rover, MAN, Navistar, Porsche, PSA Peugeot-Citroen, Renault, Rolls-Royce Power Engineering, Scania, Toyota, Volkswagen, VM Motori, 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 (http://www.sintercast.com/)
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Source: SinterCast via Thomson Reuters ONE
