Concentric Secures Major Precision Machining Component Contract in North America

REDDITCH, England, May 22, 2023 /PRNewswire/ -- Concentric has been awarded a large contract for precision machined components in North America, with an existing global OEM customer.

This new business was won based on a 15+ years relationship with this strategically important customer, increasing Concentric's share of wallet significantly. The components will be used in energy efficient medium and heavy-duty hydraulic products, in off-highway applications, in agricultural and construction equipment.

The new business obtained by Concentric, is expected to yield around 55 MSEK in annual sales, and deliveries are scheduled to start in the second quarter of 2024. The contract is open-ended and will span the life time of the application, which based on past experience with this customer, will be 10+ years.

Concentric's EMP brand has been trusted by major OEMs to deliver complex machined products which meet the most challenging specifications, from its 250,000 sqft highly automated North American manufacturing facility in Escanaba, Michigan, for over three decades. This is the second significant contract win for EMP in the last 9 months, and is testament to the EMP brand and value proposition, and is as important today to our customers as it has been over the last thirty years.

"Since Concentric AB acquired EMP in October 2021, we have continued to invest in technology and resources to accelerate profitable growth in both Escanaba and Greenfield, and this win represents another key step on this exciting 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: [email protected]

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SOURCE Concentric AB