Haldex Merges Air Management and Brake Control Business Units

STOCKHOLM--Regulatory News:

The Haldex Group (STO:HLDX) continuously implements extensive actions to enhance efficiency and increase customer service and value creation.

As part of this work, the Commercial Vehicle Systems (CVS) division’s Air Management and Brake Control business units will be merged into a single unit, namely Air Controls. The two units have strong product-development, production and purchasing synergies. The merger will lead to a more efficient organization and increase the focus on customer value creation in terms of product development of enhanced mechatronic air control products in the areas of air treatment/air distribution, brake and air-suspension systems.

In the past two years, Commercial Vehicle Systems has taken major initiatives aimed at improving its structure and enhancing the efficiency of its operations. As previously announced, the division’s Friction Products business unit has been restructured, and the division’s European distribution operation’s have been concentrated from five units into one, while manufacturing in the Redditch (UK) facility has been discontinued.

“The merger of the two business units into the new Air Controls unit means that Haldex can create improved solutions with greater efficiency for its customers. At the same time, this merger places Haldex in a better position to capitalize on its strategic structural actions when demand begins to rise,” says Joakim Olsson, President and CEO of Haldex.

Haldex (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 Nasdaq OMX Stockholm Stock Exchange and had net sales of nearly 8.5 billion SEK in 2008. The number of employees amounts to about 5,000.

Haldex discloses the information in this press release according to the Swedish Securities Market Act and/or the Swedish Financial Trading Act. The information was provided for public release on Tuesday October 6, 2009.

This information was brought to you by Cision http://www.cisionwire.com