Haldex and FAW sign Letter of Intent for Disc Brakes in China

Haldex and FAW sign Letter of Intent for Disc Brakes in China Haldex and the FAW Sichuan Group have signed a letter of intent to establish a joint-venture to manufacture air disc brakes for heavy vehicles. FAW (First Automotive Works) is China's largest vehicle manufacturer, including both cars and trucks. FAW has over 200,000 employees with its main operations in the Changchun area in the north east of China. Haldex and FAW have signed a letter of intent with the aim to establish a joint-venture to manufacture and assemble air disc brakes for heavy vehicles. The Haldex group (www.haldex.com), with headquarters in Stockholm, is a provider of proprietary and innovative solutions to the global vehicle industry, with emphasis on products related to vehicle dynamics, safety and environmental issues. Haldex is listed on the Stockholm Stock Exchange and has annual sales exceeding 6 billion SEK with 4,000 employees. FAW, First Automotive Works, is a leading supplier of heavy commercial vehicles in the Chinese market and is located in Changchun, Jilin Province, North East China. FAW employs more than 200,000 people of which around 40,000 are employed by the FAW Sichuan Group which is listed on the Shanghai Stock Exchange. For further information contact Claes Warnander, President and CEO, phone +46 8 545 049 50, or Chuck Kleinhagen, COO, phone +1 816 891 2470. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/11/20040211BIT20170/wkr0006.pdf

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Over 100 years of powerful innovation gives Haldex unsurpassed expertise when it comes to braking systems and air suspension systems for heavy trucks, trailers and buses. We live and breathe our business with the goal to deliver robust and technically superior solutions which is founded in a deep insight in our customer’s reality. Through focusing on our core competences and the passion we all share, we achieve the agility and flexibility that the market demands. Innovative collaborations aren’t only the core of our products, but our philosophy. Our 2300 employees, spread out across four continents, challenge the conventional on a daily basis in order to secure that the products we deliver create a unique value to our customers and the end users. We are listed on Nasdaq Stockholm and have a turnover of approx. 5 billion SEK.

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