Haldex divests the draw bar operation in Germany

Haldex divests the draw bar operation in Germany An agreement has been signed by which the draw bar operation within Haldex Brake Systems division is divested as per November 1, 1999. The draw bar operation encompasses a production unit in Regensburg, Germany, with 40 employees and yearly sales of 40 MSEK. The divestiture is made at book value and affects the Group's current results only marginally. The divested operation was part of Midland-Grau, which was acquired by Haldex in April 1998. Draw bars (couplings connecting trailers to powered vehicles) fall outside of Haldex Brake Systems division's main product area: air brake and suspension systems. 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 9 factories in Europe and 9 in the U.S. as well as in a joint-venture in India. For further information contact Claes Warnander or Lennart Hammargren, phone +46 9 678 72 70. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/11/01/19991101BIT00320/bit0001.doc http://www.bit.se/bitonline/1999/11/01/19991101BIT00320/bit0002.pdf