Moteco sets up manufacturing in its own company in Malaysia

Moteco sets up manufacturing in its own company in Malaysia, at the same time as starting a sales company in Singapore Hexagon's subsidiary Moteco has formed a company in Malaysia for the manufacture of antennae, and has also formed a sales company in Singapore. The companies - Moteco SDN.BHD and Moteco Asia Pty Ltd - are expected, during their first year of operations, to manufacture and sell roughly ten per cent of Moteco's total volumes and to employ roughly 70 people. Most major manufacturers of mobile telephones such as Ericsson, Nokia and Motorola have established their own manufacturing units in the region and operations are primarily geared to local deliveries to these players. Moteco is one of the world's leading suppliers of terminal antennae for mobile telephones, with operations in China, Sweden and the United States. Turnover in 1999 amounted to MSEK 215. The global market for terminal antennae is growing by roughly 50 per cent a year and Moteco's objective is to grow at the same rate as the market. Parallel with these operations, Moteco has developed antennae for Bluetooth. The Bluetooth operations are to be conducted by a separate company which is in the process of being formed. The factory in Malaysia will be capable of manufacturing antennae for both mobile telephones and the Bluetooth system. Hexagon is a Stockholm Stock Exchange listed company with a turnover of SEK 5 billion. Our commercial concept is to create growth by the acquisition and development of companies. For more information, please do not hesitate to contact: Morten Smedstad, M.D. of Moteco AB, on +46-491-224 05, or +46-705-82 82 40, or visit the companies' home pages: www.hexagon.se and www.moteco.com