LEAX Group takes action after seeing a decrease in demand

LEAX Group is forced to act quickly and adapt its operations to an upcoming decline in demand in its major customer segments. We are currently seeing a significant volume decline in the fourth quarter of 2019 and further into 2020. As consequence, LEAX is reviewing its staffing from the units affected by this trend as well as central functions. In addition, an analysis of other costs is ongoing.

"It is very sad to make such decisions, but unfortunately it is necessary to adapt the business to the generally weak market we experience in some of our customer segments", says Henrik Fagrenius, CEO LEAX Group.

Contact details:

Hans Jansson, BA Manager Propeller Shaft: +46 237 756 01
Peter Luberts, BA Manager General Industry: +46 70 688 91 85
Joakim Sandberg, BA Manager Engine and Transmission: +46 221 346 52

The information was submitted for publication, through the agency of the contact person set out above, on September 23, 2019 at 18:00 CEST.

About LEAX:

LEAX Group AB (publ) is the parent company of a group (“LEAX Group”) with about 1,300 employees. LEAX has operations in Köping, Falun, Falköping and Tidaholm in Sweden, Riga and Rezekne in Latvia, Curitiba in Brazil, Detmold in Germany, Mezökövesd in Hungary and Wuxi in China. The company is a manufacturer of mechanical components and subsystems for the heavy vehicle industry, passenger cars, mining and construction industries and other engineering industries. LEAX Group also delivers customized gearboxes for various mechanical engineering industries. The group’s sales for 2018 amounted to approx. 1.8 billion SEK.