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Partek Corporation Stock Exchange Release
16.09.1998Partek subsidiary Valtra Inc. and Zahnradfabrik Passau GmbH, the off-road driveline technology and axle systems arm of the Germany- based ZF Group have made an agreement concerning the development and deliveries of high horsepower tractor transaxles.
Valtra and ZF cooperate in high hp transmissions
Valtra will use transaxles made by ZF in the tractor range over 200 hp. The companies will jointly develop new features for the transmission management system, which will be specific for Valtra Valmet tractors.
"We selected a European partner who understands the needs of European farmers", says Jouko Tukiainen, President of Valtra. "In collaboration with ZF, Valtra will bring to the next millenium a new tractor family which has advanced transmission management."
Valtra and ZF do Brasil signed an ample contract concerning driven front axles for the Brazilian made models some months ago.
"We are pleased that we can be a system supplier of Valtra. That includes the transmission and rear axle. The joint development in transmission management is very rewarding", says Mr Hans-Georg Härter, Group Executive of ZF. The off-road driveline technology and axle systems division has a net sales of DM 1.4 billion and it employs 4,500 people.
Valtra Valmet is the leading tractor brand in Scandinavia and the second most sold in South America. In 1997 Valtra produced approx. 14,000 tractors at its plants in Finland and Brazil. Valtra´s net sales in 1997 amounted to FIM 3.2 billion and it employed some 2,400 staff.
Partek Corporation
Further information is available from:
Hannu Niskanen, marketing director, Valtra Inc tel int +358 400 641 723
Hannu Sivula, communications officer, Partek Corporation, tel. int. +358 204 55 4278
Partek is an engineering company that is a world leader in load- handling and has strong mineral-based businesses in the Baltic Sea region. The company´s net sales total FIM 12 billion, 75% of which is generated outside Finland. The company employs 12,000 people.
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