STOCKHOLM, Sweden, Jan. 16, 2002 (PRIMEZONE) -- After clearing by the relevant authorities, Haldex has per January 14, 2002, completed the acquisition of the brake chamber and suspension valve businesses from Holland Neway International, Inc.
The acquired operations, with manufacturing in Mexico and in the U.S., respectively, are now being integrated in the Haldex Brake Systems division.
The acquisition further strengthens Haldex market position and adds yearly sales of approximately $50 million.
The acquisition is estimated to add $2-3 million to the Haldex Group's 2002 earnings before tax.
A more complete description of the acquisition is contained in the press release dated December 11, 2001.
The Haldex group (www.haldex.com), with headquarters in Stockholm, Sweden, is an innovator in vehicle technology with emphasis on vehicle dynamics and supplies proprietary systems and products for trucks, cars and industrial vehicles on a global basis. Haldex is listed on the Stockholm Stock Exchange and has annual sales of approximately 7 billion Swedish Krona with 4,150 employees.
This information was brought to you by Waymaker http://www.waymaker.net