Elettronica
Higher turnover expected for automotive order; Further strengthening of Supervisory Board
Zwolle, 17 December 2015
In the press release of last 12 November, Rood Microtec announced a major order in the automotive sector with total sales of approx. EUR 10 million and a 10-year term. The terms of this order are now finally agreed. As a result of a more detailed internal analysis based on current market developments, it is expected Rood Microtec 's total sales over the entire term will amount to approx. EUR 20 million instead of the aforementioned EUR 10 million.
Sales will reach EUR 150,000 in engineering (pre-production) phase. The volume production is expected to kick off in the fourth quarter of 2017. Sales will vary during this phase and are expected to increase from approx. EUR 1 million per year to at least EUR 3 million per year. The duration of the order is from 2016 to 2025.
Furthermore, Rood Microtec intends to strengthen and expand the Supervisory Board, nominating Tom van Wijngaarden as a new member. Tom van Wijngaarden is a corporate partner at the Dutch law firm Eversheds and is also member of the Dutch Accounting Standards Board ('Raad voor de Jaarverslaggeving'). Rood Microtec is undertaking preparatory work for the convening of an extraordinary meeting of shareholders to effect the appointment. The convocation of this meeting is expected to be announced early January 2016.
In respect of the illness of CEO Philip Nijenhuis, Rood Microtec announces that a marked improvement in his health occurred. Philip has already made selective internal and external business calls.
said Vic Tee, Chairman of the Supervisory Board.
With more than 45 years ' experience as an independent value-added service provider in the area of micro and optoelectronics, Rood Microtec offers Fabless Companies, OEMs and other companies a one-stop shop proposition. With its Rood Microtec has built up a strong position in Europe.
Our services comply with the industrial and quality requirements of the high reliability/space, automotive, telecommunications, medical, IT and electronics sectors.
concerns inter alia certification of products to the stringent ISO/TS 16949 standard that applies to suppliers to the automotive industry. The company also has an accredited laboratory for test activities and calibration to the ISO/IEC 17025 standard.
Its value-added services include failure & technology analysis, qualification & burn-in, test & product engineering, production test (including device programming and end-of-line service), ESD/ESDFOS assessment & training, quality & reliability consulting, supply chain management and total manufacturing solutions with partners.
Rood Microtec has branches in Germany (Dresden, Nördlingen, Stuttgart), United Kingdom (Bath) and the Netherlands (Zwolle).
Erwin Vrielink, CFO Telephone: +31 38 4215216
Postal address:
Rood Microtec N.V., PO Box 1042, 8001 BA Zwolle
Email: investor-relations@roodmicrotec.com
Web: www.roodmicrotec.com
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