Haldex sells plant in Paris, Tennessee, USA to SETCO Automotive Limited, Mumbai, India for MSEK 33 (MUSD 4.9)
The sale concludes the previously announced shutdown of the plant in Paris, TN, one of Commercial Vehicle Systems’ North American plants. The plant had 120 employees, accounted for sales of roughly MSEK 220, and mainly made compressors and assembled certain other products within the Air Management business unit.
The bulk of the production has been transferred to other Haldex facilities in North America, and to China.
The sale to SETCO includes buildings, machinery and certain non-strategic product lines. The product lines sold account for roughly MSEK 60 in annual sales.
Haldex’s earlier estimate of the net restructuring costs, MSEK 15, still stands, and has been allocated in Q3.
“This measure is part of our ongoing efforts to improve our cost structure,” says Haldex President and Group CEO Joakim Olsson.
For additional information, please contact Joakim Olsson, President and Group CEO, phone. +46 8 545 049 54 or +46 70-545 86 54.