Haldex is increasing the cost reservation for the product recall campaign
By end of 2014, Haldex launched a field inspection followed by a recall campaign of one of its actuator models in the North American market. The campaign is estimated to span a total of 159,000 actuators. The cost was estimated to SEK 65 m at the beginning of the year, which impacted net income in the fourth quarter 2014 as a one-off item. According to new calculations, based on actual numbers and a new forecast, total cost is estimated to SEK 170 m (USD 20m), of which SEK 105 m will impact the third quarter 2015 as a one-off item. The main reasons for the increased cost are: ·