Concentric AB Secures Important Precision Machined Component Contract in North America
REDDITCH, England, Oct. 26, 2023 /PRNewswire/ -- Concentric has been awarded an important contract in North America for the supply of precision machined components with an existing global OEM customer that specializes in engines and power generators.
This new business was won based on a long-standing relationship with this strategically important customer, increasing Concentric's share of wallet significantly. Produced in our EMP facility In Escanaba Michigan, these components will be fitted onto medium-duty trucks.
Deliveries for this contract will commence in April 2024, and the supply contract is expected to yield MSEK 38 in mature annual revenues from 2025 through 2027.
Concentric's EMP brand is trusted by major OEMs to deliver complex and high-quality machined components and other products which meet the most challenging specifications, and has been doing so from its 250,000 sqft highly automated North American manufacturing facility in Escanaba, Michigan, for over thirty years.
This new business win serves as a testament to the reputation of the EMP brand, and demonstrates that its value proposition is as important today to our customers, as it has been over the last three decades.
"Since integrating the EMP brand into the Concentric group in October 2021, we have continued to invest in EMP's technology with a focus on profitable growth in both Escanaba and Greenfield, and this award represents another key step on its proud journey.", said Martin Kunz, Concentric President & CEO.
For further information, please contact:
Lynne McCarthy (Media Contact) at Tel: +44 121 445 6545 or E-mail: lynne.mccarthy@concentricab.com
The following files are available for download:
View original content:https://www.prnewswire.com/news-releases/concentric-ab-secures-important-precision-machined-component-contract-in-north-america-301968422.html
SOURCE Concentric AB
