Haldex strengthens the position in Brazil
Haldex strengthens the position in Brazil The Haldex Brake Systems division has established a strategic alliance with the Brazilian manufacturer Ader Ltda. (Adriano Erminio Ind. e Com. Ltda) in Rio de Janeiro, envisaging a future acquisition. The alliance means that Ader's production of brake system products for heavy vehicles will be exclusive for Haldex' subsidiary in Brazil, which also will take over the marketing and sales of Ader's brake products, as well as trademarks and product rights. The combination of Ader's strong position in the trailer segment and Haldex' broader product range for heavy vehicle brake systems will strengthen Haldex future position in Brazil and other South American markets. The alliance further means that Haldex gets a manufacturing base in the important Brazilian heavy vehicle market, with competence to also manufacture Haldex' brake products. This opportunity will be exploited as soon as possible for certain Haldex products. The importance of local production in Brazil has been accentuated following last year's significant depreciation of the Brazilian currency. The alliance also includes an option for Haldex to acquire Ader's manufacturing facilities. The alliance will initially add some 5 MUSD to Haldex' yearly sales in Brazil and South America. 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 31, 2000 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/31/20000131BIT00510/bit0001.pdf http://www.bit.se/bitonline/2000/01/31/20000131BIT00510/bit0002.doc