Haldex divests Chinese hydraulics factory

Haldex divests Chinese hydraulics factory

Haldex AB has completed the divestment of its operations in Qingzhou,
China, which manufacture hydraulic pumps and valves based on existing
Chinese technology.

The decision was taken because the technology and manufacturing
facilities at Qingzhou are outdated and the company will achieve better
growth and profitability by concentrating Haldex Hydraulics technology
within its modern facilities in Suzhou, Shanghai.

A capital loss of approximately SEK 19 m will be charged against the
second quarter.

The company had annual sales of SEK 35 m. in the last financial year.

For further information, please contact:

Joakim Olsson, President and CEO, Tel: +46 (0)8-545 049 52