Brief: Bosch And Gapwaves Discontinue Joint Development Agreement

Gapwaves AB

29/11/2024 12:30

Nov 29 (Reuters) - Gapwaves AB  GAPWb.ST :
    * BOSCH AND GAPWAVES DISCONTINUE THEIR JOINT DEVELOPMENT
AGREEMENT
FOR HIGH-RESOLUTION RADAR ANTENNAS
    * DISCONTINUED CONTRACT WILL HAVE VERY LIMITED EFFECT ON
GAPWAVES
FINANCIAL RESULT IN 2025 AND 2026
    * BEYOND 2027 WHEN THE PRODUCTION OF ANTENNAS WOULD HAVE
TAKEN
PLACE, THE REVENUE EFFECTS ARE LARGER ALTHOUGH STILL LIMITED
    * BOSCH HAS DECIDED TO DISCONTINUE INDUSTRIALIZATION OF
HIGH-RESOLUTION RADAR SOLUTION INCLUDING A WAVEGUIDE ANTENNA
WITH GAPWAVES
    * REASON IS WEAK MARKET DEMAND FOR HIGHLY AUTOMATED DRIVING
SYSTEMS

Source text:  ID:nMFNbGwR20 
Further company coverage:  GAPWb.ST 

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