FlexLink and Tsubakimoto Chain Co. signed JV agreement for growth in Japan

Japanis a leading market for industrial automation and the cooperation Tsubakimoto Chain Co. and FlexLinkABstarted in July 2010, has shown the benefits and growth opportunities for the combined offer of the companies. Following the successful cooperation, the partners have now decided to establish a JV named
Tsubaki FlexLink Co.

Tsubaki FlexLink Co. will further develop the position in the Japanese market of FlexLink solutions, systems and services within production logistics. The company will have its head office located inTokyoand an additional sales office inOsaka.

The entire Japanese market will be covered by the new company and through the extensive partner network taken over from Tsubakimoto Chain Co. and FlexLink Systems KK. The target is to be the leading provider throughout a broad spectrum of manufacturing industries within the Automotive, Electronics, Fast Moving Consumer Goods (FMCG) and Healthcare segments.

For international businesses, Tsubakimoto Chain Co. will be a member of FlexLink’s strategic partner network.

The new company will be fully operational by June 1st, 2011. Managing Director of the new company is Mr. Keiichiro Kuriyama, previously Sales Director at the Material Handling Division of Tsubakimoto Chain Co. The Tsubaki FlexLink Co management is consisting of key members of the joining partners.

The ownership is 51% by Tsubakimoto Chain Co, Osaka Japan, and 49% by FlexLink AB, Gothenburg Sweden.

Mattias Perjos, CEO at FlexLink. “Through this co-operation we are joining world leading products, experienced application engineering and strong local presence throughoutJapan. Existing and new customers of Tsubakimoto and FlexLink will benefit from the highest quality level of delivered products and services enabling strengthened competitiveness in their production.”

Tsubakimoto Chain Co. is the world's premiere manufacturer and developer of power transmission products. Tsubakimoto Chain Co. is also a leader in the development and production of factory automation systems, physical distribution systems, and electronic control devices. Tsubakimoto Chain Co. operates factories worldwide and its network of sales subsidiaries and affiliates markets its products in more than 70 nations.

FlexLink Group

For further information, please visit www.flexlink.com or contact:

Mattias Perjos
CEO, FlexLink AB
+46-31-337 1626
mattias.perjos@flexlink.com

Klas Ålander
Corporate Communications, FlexLink AB
+46-31-337 2499
klas.alander@flexlink.com