STOCKHOLM, Sweden, Feb. 13, 2004 (PRIMEZONE) -- In a press release dated January 31, 2000, a strategic alliance in Brazil was announced, aiming at a future acquisition. Haldex has now acquired FBF -- Fabrica Brasileira de Freios S.A.
FBF manufactures regulating valves for air brake systems on heavy vehicles. The factory is situated in the outskirts of Rio de Janeiro and has 65 employees. The FBF acquisition also includes a small aluminium die casting operation in Flores da Cunha in southern Brazil with 25 employees. The production facilities are ISO TS 16949 certified.
The alliance has hitherto meant that the FBF production has been exclusive for Haldex and the products marketed through the Haldex sales organization. The FBF acquisition, therefore, does not change Haldex sales volume, but certain cost synergies will exist as the alliance is transformed into ownership.
The acquisition will facilitate further localization of Haldex products,relevant to the Brazilian market. A production base in Brazil isimportant to meet customer demands for increased local content. Thus,local manufacturing of Haldex Automatic BrakeAdjuster products have already been initiated and additional productswill be manufactured locally.
The Haldex group (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 billion SEK with 4,000 employees.
For further information contact Claes Warnander, president and CEO Lennart Hammargren, CFO phone +46 8 545 049 50.
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