ROODMICROTEC N.V. Zwolle, 17 December 2015
In the press release of last 12 November, RoodMicrotec announced a major order in the automotive sector with total sales of approx. € 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 RoodMicrotec's total sales over the entire term will amount to approx. € 20 million instead of the aforementioned € 10 million.
Sales will reach € 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. € 1 million per year to at least € 3 million per year. The duration of the order is from 2016 to 2025.
Furthermore, RoodMicrotec 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'). RoodMicrotec 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, RoodMicrotec announces that a marked improvement in his health occurred. Philip has already made selective internal and external business calls.
'We are pleased with the marked improvement in Philip's health. The temporary measures regarding the division of his work, which we reported in the press release of last 29 October, are working very well and remain in force. The management of RoodMicrotec is fully committed to turn the recently acquired orders in the automotive sector into a success and to achieve and stimulate the expected sales.
We are also pleased with the intended strengthening and expansion of the Supervisory Board of RoodMicrotec with Tom van Wijngaarden. With his experience in corporate governance and his expertise in the field of Dutch listed companies, annual reporting, M&A and capital markets, he will make a valuable contribution to the activities of the Supervisory Board,' said Vic Tee, Chairman of the Supervisory Board.
About RoodMicrotec
With more than 45 years' experience as an independent value-added service provider in the area of micro and optoelectronics, RoodMicrotec offers Fabless Companies, OEMs and other companies a one-stop shop proposition. With its powerful solutions RoodMicrotec 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.
Certified by RoodMicrotec 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.
RoodMicrotec has branches in Germany (Dresden, Nördlingen, Stuttgart), United Kingdom (Bath) and the Netherlands (Zwolle).
Further information:
Erwin Vrielink, CFO Telephone: +31 38 4215216
Postal address:
RoodMicrotec N.V., PO Box 1042, 8001 BA Zwolle
Email: investor-relations@roodmicrotec.com:
mailto:investor-relations@roodmicrotec.com
Web: www.roodmicrotec.com:
http://www.roodmicrotec.com
http://hugin.info/130789/R/1974336/722346.pdf
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: RoodMicrotec N.V. via Globenewswire
