Haldex completed the acquisition of Concentric yesterday, following approval of the acquisition by the German competition authority. The transaction was disclosed through a press release dated February 22, 2008. Concentric, a world-leading supplier of oil, water and fuel pumps for diesel engines, will sharpen Haldex's focus on leading-edge technology and growth within structurally attractive market niches.
Concentric's strong position in markets for oil, water and fuel pumps complements Haldex's existing product area for diesel engines and enhances the offering to the diesel engine market.
Concentric will be part of Haldex's Hydraulic Systems Division, whose size will thus increase significantly. Haldex is acquiring Concentric for a cash consideration of GBP 75 million.