Regulatory News:
Haldex (STO:HLDX) continues to optimize its production structure. During the coming months, manufacturing in two of Hydraulics Divisions' production units in the US will be consolidated into one plant.
The plant in Statesville, North Carolina, will be closed following the transfer of manufacturing to the Haldex plant in Rockford, Illinois.
Following the merger and investments, the plant in Rockford will be a state-of-the-art operation with world-class processes in line with the lean manufacturing principles for production, development, quality, logistics and customer support.
A number of employees in Statesville will be given the opportunity to relocate to Rockford.
The merger will be implemented in mid-2010. Restructuring costs will total approximately SEK 13 M, and will be posted in the first quarter of 2010. The annual saving is estimated to SEK 23 M.
The consolidation is implemented as a feature of efforts to create a more efficient organization and to reduce costs within the Haldex Group:
"The merger is logical because the plants manufacture similar products. This measure will enable us to take another step towards an optimized and cost-efficient Group structure, enabling us to focus on areas where we can achieve a sustainable market position with innovative and leading products," says Joakim Olsson, President and CEO of Haldex.
Haldex (www.haldex.com), headquartered in Stockholm, Sweden, is a provider of proprietary and innovative solutions to the global vehicle industry, with focus on products in vehicles that enhance safety, environment and vehicle dynamics. Haldex is listed on the Nasdaq OMX Stockholm Stock Exchange and had net sales of nearly 8.5 billion SEK in 2008. The number of employees amounts to about 5,000.
Haldex discloses the information in this press release according to the Swedish Securities Market Act and/or the Swedish Financial Trading Act. The information was provided for public release on Tuesday, January 19, 2010.
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Contacts:
Haldex
Joakim Olsson, President and CEO
or
Stefan
Johansson, CFO
Tel: +46 (0)8-545 049 52
