David Woolley appointed President and CEO of Concentric

David Woolley, at present head of Haldex Hydraulic Systems in Europe, will succeed Ian Dugan as President and CEO of Concentric AB, presently Haldex Hydraulic Systems Division, as of August 1, 2011

David Woolley, 49, has extensive experience of the company’s operations. David joined Concentric in 2002 as a member of the company’s Group Management Team. David was previously head of engine pump operations in the UK and India and currently is head of Haldex Hydraulic Systems in Europe. Previously, David has 12 years of experience from the automotive sector . He was a member of the management team at Serck Heat Transfer and later worked for Alstom and Honeywell in General Management roles.

“The appointment of David Woolley as the new CEO of Concentric ensures a smooth hand-over and continuity as David has vast experience from successfully running several operations within the organization” says Joakim Olsson, President and CEO of Haldex AB.

David has a B.Sc. in Metals Technology, a BTR Diploma of Executive Potential, a Post Graduate Diploma in Management Studies and a TEC and Higher TEC in Material Technology.

As announced earlier this year, Ian Dugan will leave the company when a successor has been appointed.

For further information, please contact:

Joakim Olsson, President and CEO +46 (0)8-545 049 52, or Lena Olofsdotter, SVP Corporate Communications +46 8 545 049 63.

Haldex (www.haldex.com (http://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 6.9 billion SEK in 2010. The number of employees amounts to about 3,800.

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 June 8, 2011, at 08.00.