[Stockholm, 23 May 2019] - At the SinterCast AB (publ) Annual General Meeting (AGM) to be held at 15:00 today, Dr Steve Dawson, President & CEO, will confirm new series production programmes and new installation activities for Compacted Graphite Iron (CGI) and for the company's Tracking Technologies.
Dr Dawson will comment on the recent growth from 2.5 million Engine Equivalents in 2018 to the new record level of 3.4 million Engine Equivalents in March 2019, and will confirm that April also finished at 3.4 million. Dr Dawson will express confidence in continued growth in each of the passenger vehicle, commercial vehicle and industrial power sectors, including the start of sales of the SinterCast-CGI 3.0 litre V6 diesel engine in Jeep Wrangler and Jeep pick up truck applications during the second-half of 2019. The company also expects the production approval of a new SinterCast-CGI petrol engine, potentially marking the company's second passenger vehicle petrol engine application.
Dr Dawson will also comment on the outlook for new installations and will reiterate the company's ambition for the installation revenue in both 2019 and 2020 to exceed the historical average of approximately SEK 7 million. Dr Dawson will confirm that the CSIC Mini-System 3000 installation in China has been successfully commissioned and that the Mini-System 3000 installation at the Kimura rapid prototyping installation in the United States is scheduled to be commissioned during June. The company is also currently supporting CGI functionality upgrades at one foundry in North America and one foundry in Europe, and the Ladle Tracker installation at the Poitras foundry in Canada is underway. Successful commissioning of these activities before the end of June provides the potential for the company to post installation revenue of approximately SEK 5 million in the second quarter. Likewise, the Scania System 4000 Plus installation - announced on 29 January 2019 and scheduled for commissioning in mid-2020 - provides a head start of approximately SEK 5 million to the 2020 installation campaign.
In closing, Dr Dawson will present a positive outlook for both the CGI market and for the new Ladle Tracker and Cast Tracker technologies, and will express confidence in the company's ability to continue to post double-digit growth in its CGI series production throughout the company's five-year planning horizon.
This information was distributed by Cision http://www.cisionwire.se/