Can you please comment on the progress of the joint ventures with ABB and Grainger & Worrall?

Shareholder, Anders Thomsson

The collaborations with ABB and Grainger & Worrall continue to bring benefits to SinterCast in the customer market.

The objective of the ABB relationship was to develop a process to control the production of CGI in pressurised pouring furnaces. This product has now been developed and successfully tested in two different foundries. Discussions are underway to initiate trials in a third foundry. The relationship with ABB has resulted in one additional product to the SinterCast product portfolio. When a foundry requests this product we will deliver it. The important thing is that our technology is ready for pressurised pouring furnace production and this enhances our technical reputation and gives SinterCast a technical advantage. We will display our technology together with ABB at the upcoming GIFA foundry exhibition to be held in Dusseldorf, 16-21 June 2003.

We are also active with Grainger & Worrall and have cast prototypes for different OEMs during 2002 and 2003, although we are not at liberty to disclose details of these activities.

In both cases, the ABB and Grainger & Worrall collaboration have increased the market awareness of SinterCast and CGI. Both of these companies have extensive contacts throughout the foundry and automotive industries and this has helped to increase SinterCast’s market presence.

Finally, it is important to clarify that the collaborations with ABB and Grainger & Worrall are not joint ventures. They are technical partnerships and there are no financial, ownership or representation implications in the partnership agreements.