Valencia / Barcelona, Spain, November 29th, 2009 - NAGARES Group, an Spanish company that delivers innovative electronic solutions to the automotive market, and PREMO, technology leader for inductive and EMC components, announced the formation of an agreement to develop and produce smart grid interface EMC modules for future electric and hybrid vehicle applications.

"This agreement with PREMO, a global player across multiple industries, provides us with an experienced and strong partner in the field of power inductors and transducer sensors" said Alfredo Perez, Project Manager of NAGARES Group. "In combination with PREMO experience as a worldwide supplier, we are well positioned to anticipate the challenges of the market and exceed the EMC requirements for any kind of electric and hybrid vehicle components and systems."

"With NAGARES we have a valuable partner which is a well-known and well-respected supplier in the automotive industry. NAGARES's experience and capabilities will enable us to make best use of our know-how and our innovations in this sector of the industry," said Ezequiel Navarro, C.E.O. of PREMO. "Inductors and magnetic components are key technologies to assure EMC compatibility with electric and hybrid vehicles, the answer to increasing emissions and limited natural resources."

The cooperation between the two Spanish companies will generate a powerful joint of know-how and experience in the automotive sector from the supplier (tier ones) point of view. Both companies consider the R&D as strategic within their particular business plans investing on that over 8% of their yearly sales. Three different production facilities (Spain, Tangier and China) and about 800 people together develop and manufacture more than 8 millions complete electronic modules and 80 millions of inductive components. These are delivered to 80 countries globally to 50 different companies: automotive manufacturers, tier ones and secondary suppliers. Due to this, the new green cars projects coming from the big automotive manufacturers will find NAGARES and PREMO as the best partners to get solutions for the new environmental and EMC challenges.