Paris, May 3, 2017, 5.35 p.m. - Assystem S.A. (ISIN code: FR0000074148 - ASY)
Assystem acquires Engineering Partner Automotive Nordic AB
Assystem has acquired 100% of the shares of Engineering Partner Automotive Nordic AB ("Engineering Partner") a company based in Gothenburg, Sweden. Engineering Partner is a leading specialist of engineering services rendered to the automotive and industrial markets in Sweden, with a range of skills covering all aspects of product development such as mechanical and electrical engineering, hardware and software development, project management, testing and manufacturing support.
With premises in Gothenburg, Trollhättan and Södertälje, Engineering Partner currently employs 164 engineers and is expected to generate revenues of € c.17m in 2017. It benefits from rapid growth, reflecting the increasing needs of the Swedish automotive market for development projects notably dedicated to autonomous and electrical vehicles.
Engineering Partner mainly serves Swedish blue chip OEMs through time & material and workpackage contracts.
This acquisition will enable Assystem Global Product Solutions (GPS) to access the Swedish market, to strengthen its commercial relationships with global OEMs and to diversify its customer portfolio, which will overall strengthen its automotive business.
Fredrik Blomberg, Per Saldh and Peter Johanson, founders of Engineering Partner will continue in their respective positions as Managing Director and Key Account Managers of Engineering Partner, and will contribute to develop Engineering Partner and more generally Assystem GPS's business in Sweden and further in Scandinavia.
"We are delighted to now count Engineering Partner among GPS entities. This acquisition has clear objectives: increase our international footprint, enlarge our global automotive offering, reinforce our capability to propose workpackages and serve our customers with furthermore solutions thanks to our Automotive Engineering Centres", said Roch Thaller, Vice President Automotive & Transportation at GPS.
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About Assystem:
Assystem is an international group specialised in engineering. As a key participant in the industry for 50 years,
Assystem supports its clients in developing their products and managing their capital expenditure throughout the product life cycle. Assystem employs more than 12,500 people worldwide and generated €956 million in revenue in 2016.
Assystem S.A. is listed on Euronext Paris.
For more information please visit www.assystem.com (http://www.assystem.com) - Follow Assystem on Twitter: @Assystem
Contacts:
Media relations Daniel Da Costa, ddacosta@assystem.com (mailto:ddacosta@assystem.com)
(+33 (0)1 55 65 03 18)
Investor relations Agnes Villeret, Komodo, agnes.villeret@agence-komodo.com (mailto:agnes.villeret@agence-komodo.com)
(+33 (0)6 83 28 04 15)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ASSYSTEM via Globenewswire
