New CEO and shareholder in STT is Lennart Kallioniemi. Lennart has a long career of executive positions in Swedish companies, such as Bulten, Uddeholm Tooling and Fundia, and before joining STT he was the manager of one of the large divisions in Autoliv, Textiles.
New Chairman of the Board is Gunnar Bark - the man who built up the car safety company, Autoliv, to a global group. Today, Gunnar Bark still works one-third with Autoliv, and he also becomes a shareholder in STT.
In a joint statement, the new CEO Lennart Kallioniemi and the new Chairman of the Board Gunnar Bark, had this to say:
"We see great potential in STT. Recent events show the importance of finding a solution to the environmental problems of diesel. STT's technology embodies that solution. There are no competing products available today, and the market for STT emission technology is almost unlimited. At present, STT is one of the most exciting companies in this niche of the engine industry. It will be a pleasure to take this company to the stock exchange."
STT has developed, and applied for the patent for DNOx™, a technology that reduces emissions from diesel engines. Nitrogen oxides can be reduced by 50 percent, and 90 percent of solid particulates can be reduced, without losing any engine performance. The system can be applied both in the new production of engines, and on existing engines.
STT Holding and its subsidiaries are already well known in the engine industry. With his racing background, Ingemar Eriksson, the founder of the Company, has developed systems to enhance the performance of both diesel and petrol engines. The list of customers is long and contains well known companies such as Toyota, Mazda, Ssang-Yong and Volvo.
The operations in STT have been expanded to include more sophisticated systems. At present, the Company is developing its perhaps most exciting product area - a system to reduce emissions of harmful exhausts from combustion engines, starting with diesel engines.
"The step now being taken is important for STT from a marketing aspect," says Ingemar Eriksson, who remains a member of the Board and the principal owner. With newly developed STT products to reduce nitrogen oxides, the engines meet both current and future regulations from environmental authorities. STT's solutions will become even more attractive as the environmental regulations are tightened."
STT is a company undergoing rapid expansion. STT's main operations are the analysis and development of engine systems, i.e. optimised systems for combustion engine performance, emissions and fuel consumption, with an initial emphasis on diesel engines. In the course of the year, STT has gained a strong foothold on the market, with broad contacts in the international engine and vehicle industries. The company is entering a new exciting phase in that it has developed a system (DNOx), for the reduction of all legally-regulated emissions from diesel engines. The system can be applied to both new and existing vehicles. STT has over 20 employees and estimated sales for 2000/2001 of 50 million SEK. Operations are currently carried out at two locations in the Sundsvall area.
For further information, please contact:
Lennart Kallioniemi STT Tel +46 (0)60-64 10 40 + 46 (0)708-48 54 30
Ingemar Eriksson +46 (0)70-577 84 01