Concentric Suzhou (STO:COIC), a subsidiary of Concentric AB, is to supply diesel engine coolant pumps under a contract worth over $3million pa to the Chinese operation of one of the world's leading manufacturers of agricultural equipment.
The pump will be manufactured at Concentric's plant in Suzhou and assembled to a front engine cover for the customer's mid-range engine. The engines are to be used in tractors for the Chinese market, so the Concentric pump assemblies offer the advantage of local supply as well as increasing local content.
David Woolley, President and CEO of Concentric AB commented: “Our plant in Suzhou is strategically located to serve both Chinese OEMs and the many major western corporations operating in the region. The success of this project is a tribute to the skills and experience of our staff and demonstrates the confidence and commitment of one of our most important global customers.”
Concentric Suzhou produces oil and water pumps for medium and heavy diesel engines as well as Haldex-branded power packs, the first of Concentric's hydraulic product range to be manufactured in China.
Concentric is an innovator in flow control and fluid power, supplying proprietary systems and components for trucks, buses and industrial vehicles, worldwide. The company encompasses two technology/product areas, hydraulics and pumps for diesel engines. The hydraulics range is supplied under the Haldex brand name and the pumps are branded Concentric.
With 1,220 employees and yearly sales of over 2.2 billion Swedish Kronor, Concentric AB is listed on the Stockholm Stock Exchange (www.concentricAB.com).
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