STOCKHOLM, Sweden, Oct. 13, 2004 (PRIMEZONE) -- On Tuesday, October 12, Haldex inaugurated a newly built factory in Hungary for final assembly and testing. Sweden's Deputy Minister of Finance, Mr. Gunnar Lund and Dr. Imre Rethy, the Hungarian State Secretary at the Ministry of Economy and Transport, performed the inauguration ceremony together with Haldex group management.The establishment of the factory in Hungary, which initially comprises 20,400 m2 land with 5,750 m2 total building area, is one of several actions to improve the group's cost structure and competitiveness. Haldex production and sourcing in Hungary and other East European countries is increasing, at the same time as the group's production in Western Europe is reduced.
The factory in Hungary is a group common unit, to which different divisions can localize final assembly and testing of products for the European market. An Hungarian production management has been recruited. The factory is quality certified according to QS 9000. Certification according to TS 16946 is planned for July 2005 and ISO 14000 in December 2005. Fully utilized, the premises will employ 140 people.
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 Stockholm Stock Exchange and has annual sales over 6.5 billion SEK with 4,400 employees.
For further information contact Claes Warnander, president and CEO, or Lennart Hammargren, CFO, phone +46 8 545 049 50.
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