Press Releases

Haldex AB proposes to reorganize its divisions into three separate listed entities
16-07-2010

The Haldex Board of Directors will propose a reorganisation of the divisions of Haldex, so that the Haldex shareholders will subsequently own shares in three separate listed companies instead of a single company. The intention is to submit this proposal to shareholders at the AGM in the second quarter of 2011

In the judgement of the Board of Directors and Management, the reorganization into three separate listed companies will provide long-term added shareholder value. The strategy of focus has worked, and all three divisions have now achieved such size and profitability that the divisions will have better opportunities as separate listed entities.

Each company will, with a distinct business concept and a clear market and product orientation, focus more clearly on profitable growth opportunities, serving the relevant end markets and developing the independent businesses.  The separate companies will provide a clearer and more transparent investment proposal for both existing and potential new shareholders.

It is therefore a natural next step to put a proposal to the shareholders at the next AGM, that Haldex's three existing business divisions - Commercial Vehicle Systems, Hydraulic Systems and Traction Systems- will become three independent listed companies, and Haldex shareholders will own shares in three companies instead of in a single company.

The Haldex Board of Directors will propose a distribution in accordance with the so-called Lex Asea rules.  The intention is to submit the proposal to shareholders at the AGM in the second quarter of 2011.  This assumes that no information of material importance emerges prior to the AGM that would justify a different and more preferable course of action.

More information will be made available as and when appropriate, and detailed information will be distributed to shareholders at the latest by the time of publishing the 2010 year-end report in the first quarter of 2011.

Lazard is acting as financial advisor and Mannheimer Swartling is acting as legal advisor to Haldex AB.

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