Haldex divests Chinese hydraulics factory

​Haldex AB has completed the divestment of its operations in Qingzhou, China, which manufacture hydraulic pumps and valves based on existing Chinese technology.

The decision was taken because the technology and manufacturing facilities at Qingzhou are outdated and the company will achieve better growth and profitability by concentrating Haldex Hydraulics technology within its modern facilities in Suzhou, Shanghai.

A capital loss of approximately SEK 19 m will be charged against the second quarter.

The company had annual sales of SEK 35 m. in the last financial year.

For further information, please contact:

Joakim Olsson, President and CEO, Tel: +46 (0)8-545 049 52

Haldex (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 5.5 billion SEK in 2009. The number of employees amounts to about 4,000. 

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 Thursday June 3, 2010.