Haldex consolidates commercial vehicle activities

Haldex consolidates commercial vehicle activities A decision has been made to incorporate the Haldex Midland Services division as a part of the Haldex Brake Systems division. The Haldex Midland Services division, which handles the North American aftermarket for Haldex commercial vehicles brake products, was initially organized as a separate division in connection with Haldex' acquisition of Midland-Grau in April 1998. Recent changes in the structure of the industry and the customer base, however, point to the need for closer collaboration and coordination between the units working with the original equipment manufacturers and those working with the replacement parts market. Consolidation of all activities regarding commercial vehicle brake equipment will allow Haldex Brake Systems to be more responsive to customer needs. It is also consistent with the Haldex Brake Systems structure in markets outside North America. The present management for the North American aftermarket remains unchanged and becomes part of the management team of the Brake Systems division. Haldex is a global supplier of proprietary products for trucks, cars and industrial vehicles, with special emphasis on performance & safety. The Group is listed on the Stockholm Stock Exchange and has yearly sales of 6 BSEK with 4,350 employees. The Group has sales companies in Europe, North & South America and Asia. Production takes place at 8 factories in Europe and 8 in the U.S. as well as in a joint-venture in India. For further information contact Claes Warnander or Lennart Hammargren, phone +46 8 678 72 70. January 17, 2000 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/17/20000117BIT00350/bit0001.doc http://www.bit.se/bitonline/2000/01/17/20000117BIT00350/bit0002.pdf