Dometic divests seating and chassis component business
Dometic Group (“Dometic”), the global market leader in solutions for mobile living, has entered an agreement to sell the seating and chassis component business of its subsidiary Atwood Mobile Products (“Atwood”) to Lippert Components, Inc. (“LCI”), a wholly-owned subsidiary of Drew Industries Incorporated. The divestment includes a production site in Elkhart, Indiana. Sales of the divested business for 2015 were approximately USD 30 million.
“The sale of the seating and chassis components business is another result of our active portfolio management, with the aim to create a more focused and competitive Dometic. We have a suitable buyer in LCI, as this business fits with their current offering. For Dometic, this means that we will be able to further increase our focus and develop our world-leading position in the core areas Climate, Hygiene & Sanitation and Food & Beverage”, said Roger Johansson, President and CEO of Dometic.
The selling price is USD 12.5 million, which will be paid in cash. This transaction will trigger a write-down mainly relating to intangible assets of USD 3.0-3.5 million, which will be recorded in the fourth quarter results. The transaction is expected to be completed in November 2016.
For more information, please contact
Erika Ståhl, Head of Business Control & Investor Relations
Tel: +46 8 501 025 24
Email: ir@dometicgroup.com
This information is information that Dometic Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 13.30 CET on 27 October 2016.
ABOUT DOMETIC GROUP Dometic is a global market leader in branded solutions for mobile living in the areas of Climate, Hygiene & Sanitation and Food & Beverage. Dometic operates in the Americas, EMEA and Asia Pacific, providing products for use in recreational vehicles, trucks and premium cars, pleasure and workboats, and for a variety of other uses. Dometic offer products and solutions that enrich people’s experiences away from home, whether in a motorhome, caravan, boat or a truck. Our motivation is to create smart and reliable products with outstanding design. We operate 22 manufacturing/assembly sites in nine countries, sell our products in approximately 100 countries and manufacture approximately 85% of products sold in-house. We have a global distribution and dealer network in place to serve the aftermarket. Dometic employs approximately 6,500 people worldwide, had net sales of SEK 11.5 billion in 2015 and is headquartered in Solna, Sweden.