Haldex Announces Actions in Collision Avoidance Systems
Haldex Announces Actions in Collision Avoidance Systems (April 24, 2001) Haldex Brake Systems, a division in the Haldex group, has formed a strategic alliance with Altra Technologies Inc., MN, which has developed electronic anti-collision systems for commercial vehicles, and made a 3 MUSD equity investment in the company. The total market for collision avoidance systems on commercial vehicles is forecast to show a rapid growth and is estimated to exceed 500 million dollars in 5 years. The Haldex-Altra alliance aims at capturing at least 15% of that market. Both Haldex and Altra will market the Altra Technologies collision avoidance system which features Altra's patented SmartSensors. Each unit contains a special radar sensor and built in software to analyze possible collision hazards without the need for an expensive central computer. The SmartSensors can be deployed on the perimeter of any vehicle to guard against the most common accidents. Local processing of hazard data facilitates easy installation and tailoring of systems for each vocation. Altra Technologies has also developed a hybrid sensor that combines ultrasonic and radar technologies for obstacle detection while reversing. Haldex and Altra will cooperatively develop Collision Avoidance and other radar-based vehicle dynamics systems for global commercial vehicle markets. Future development projects between the companies will integrate Altra Technologies sensors' into Haldex' Electronic Braking and Stability Control systems to provide active collision avoidance capability. As part of the alliance, Haldex has made a $3 million minority investment in Altra Technologies. This investment will provide equity to allow Altra to accelerate development and production of their systems. The business development of anti-collision systems is well in line with Haldex' strategic direction towards vehicle dynamics. The Haldex Brake Systems division is a major supplier to the global commercial vehicle industry of subsystems and components for air brake and air suspension systems. Haldex is an innovator in vehicle technology and supplies proprietary products for trucks, cars and industrial vehicles on a global basis. The Group is listed on the Stockholm Stock Exchange and has annual sales exceeding 6 billion Swedish Krona with 4,250 employees. For further information contact Claes Warnander, CEO, or Lennart Hammargren, CFO Haldex AB (phone +46 8 678 72 70). ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/24/20010424BIT00640/bit0002.doc http://www.bit.se/bitonline/2001/04/24/20010424BIT00640/bit0002.pdf