DecideAct closes contract with the first customer in the Automotive and Industrial component industry

DecideAct A/S [ACT]

Company Announcement No. 02-2022:

This press release constitutes inside information that DecideAct A/S is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out below, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.

DecideAct has signed a contract with Shawcor Automotive Division, a leading provider of automotive components worldwide. The division is part of Shawcor, a global energy and infrastructure technology company headquartered in Toronto, Canada, operating in 20 countries and employing approximately 4,200 people. Shawcor will use DecideAct’s digital tool to monitor the strategic progress and make sure that the organization’s strategic goals are met.

We are delighted to announce that DecideAct is today entering a new area of business as we have signed a contract with the first customer in the automotive component sector and are welcoming Shawcor Automotive Division in Canada as a DecideAct customer. The company has invested in DecdideAct's solution to increase the traction of its strategic Initiatives through improved tracking and reporting. The expected payoff is increased revenue and profitability.

Shawcor Automotive Division is a leading provider of heat shrink tubing and water-blocking solutions for an evolving global automotive industry. With over 45 years of experience, Shawcor is a trusted supplier of solutions to automotive customers with globally located design and manufacturing centers. The company’s global sales and application engineering teams work closely with customers to address the new challenges from working with lighter-weight materials, new power distribution systems, electric vehicles and autonomous driving systems.

The division is part of Shawcor – a growth-oriented, global material sciences company serving the Infrastructure, Energy, and Transportation markets. The Company operates through a global network of fixed and mobile manufacturing and service facilities. Its three business segments, Composite Systems, Automotive & Industrial and Pipeline & Pipe Services enable responsible renewal and enhancement of critical infrastructure while lowering risk and environmental impact. Headquartered in Toronto, Canada, Shawcor operates in 20 countries and employs approximately 4,200 people. Shawcor has an annual turnover of $1.2 billion, and among the users of the company's solutions are manufacturers such as Tesla, BMW and Volkswagen.

CMO of DecideAct and CEO of Canadian subsidiary, Parisa Louie states: “The contract is an important step for us, as we are entering a new and very interesting vertical with our solution. We are looking forward to supporting Shawcor with their strategy execution, and we expect a lot from the agreement as we have good experience in transferring the knowledge we acquire from one field to similar areas,” Louie concludes.

Company website: https://www.shawcor.com