VBG Group is creating a new division, Truck & Trailer Equipment
In the fourth quarter of 2019, VBG Group AB's Board of Directors decided that the two divisions, VBG Truck Equipment and Edscha Trailer Systems, should report and be followed up as a joint segment Truck & Trailer Equipment.
In order to create better conditions for streamlining and co-utilization of resources in marketing, sales, development, production and administration, the Board has now decided to also organizationally merge the divisions Edscha Trailer Systems and VBG Truck Equipment into a new division called Truck & Trailer Equipment.
From a legal perspective, the decision means that Truck & Trailer Equipment’s main company, the Vänersborg-based company VBG Group Truck Equipment AB, will acquire all the companies, belonging to the divisions, from the parent company, VBG Group AB (publ).
Anders Erkén, Executive Vice President of VBG Group and Divisional Manager of Truck & Trailer Equipment, considers the change to be a positive one:
“This is a natural next step for us. As an expanded major division, we can now focus on commercial vehicles and find even more synergies between our brands and within the organization.”
The new organization will take effect immediately and the work, that has already started on streamlining and co-utilization of resources, will continue. The brands in the new division include Ringfeder, VBG, Onspot, Edscha TS and Sesam.
Ringfeder and VBG are leading brands in couplings for trucks with heavy trailers and jointly account for more than 50 percent of the global market. With their automatic tire chains, Onspot also has a world-leading position in this niche. Edscha TS is a leading global brand of sliding roofs for canopied trailers and tipper vehicles, as well as sliding bow roofs for goods wagons. Together with the Sesam brand, we have approximately 40 percent of the global market in sliding roofs.
In addition to the new wholly owned Truck and Trailer Equipment division, VBG Group consists of the Mobile Climate Control and Ringfeder Power Transmission divisions. The Group operates in a total of 18 countries and employs 1,600 people.
Anders Birgersson, President & CEO
Telephone: +46 521-27 77 67
VBG Group AB (publ), domiciled in Vänersborg, is the Parent company of an international engineering Group with wholly owned companies in Europe, North America, Brazil, South Africa Australia, India and China. The Group’s operations are divided into three divisions – Truck & Trailer Equipment, Mobile Climate Control and Ringfeder Power Transmission – with products that are marketed under strong, well-known brands. VBG Group AB’s Series B share was introduced on the stock exchange in 1987 and is listed today on the Nasdaq Stockholm Mid Cap list.
This information is of the type that VBG Group AB is obligated to disclose in accordance with the EU Market Abuse regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8:00 am. on 11th of March 2020.