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Haldex: Changed Outlook for the Full Year 2000

14 December 2000

Haldex: Changed Outlook for the Full Year 2000

    STOCKHOLM, Sweden--Dec. 14, 2000--The Group's result for October-November has been affected by increased costs related to the development and introduction of new products in the Brake Systems division, as well as by lower business volumes for the Group in North America.
    Therefore, the 4th quarter's result is expected to be substantially weaker, and the full year result and profit margin are estimated to be lower than previous year.
    During 2001, the production of both heavy and light vehicles are expected to decline compared to the current year. As regards heavy vehicles, the decline is estimated to be especially sharp in North America, but also Europe is expected to show a reduced production rate.
    In addition to the weaker market situation in 2001, the result for the beginning of the year will continue to be affected by high costs for development and introduction of new products. Actions to adjust the organization and cost levels have been initiated and will successively gain effect.