SAF-HOLLAND sells AerWay product line
Luxembourg, December 11, 2015 +++ The SAF-HOLLAND Group, Luxembourg, is
divesting its Canadian non-core activities in agricultural equipment
through the sale of its AerWay product line.
The commercial vehicle supplier SAF-HOLLAND is following through with the
planned divestment of soil loosening and cultivation equipment by selling
the AerWay product line to the Canadian company Salford Inc., a specialist
in soil tillage machinery headquartered in Salford, Ontario.
This product line has been a peripheral activity since the merger of SAF,
Germany, and Holland, USA, in 2007 and does not represent a core business
of the SAF-HOLLAND Group, which provides axles and suspension systems for
trailers, buses, and trucks in addition to fifth wheels, kingpins, and
landing gear. In fiscal year 2014, the AerWay product line generated sales
in the mid single-digit millions making only a minor contribution to Group
sales of EUR 959.7 million. The product line had 38 employees working at
SAF HOLLAND's Canadian subsidiary, SAF-HOLLAND Canada Limited, in Norwich,
Canada, and operated within the Trailer Systems business unit.
Both parties agreed not to disclose details of the purchase price said to
be in the low single-digit million EUR amount, and there were no objections
raised by antitrust authorities. The transaction was closed on December 11,
2015.
Company profile:
SAF-HOLLAND S.A., located in Luxembourg, is the largest listed supplier to
the commercial vehicle market in Europe. With sales of approximately EUR
960 million in 2014 and more than 3,000 employees, the company is one of
the world's leading manufacturers and suppliers of chassis-related systems
and components primarily for trailers, trucks, buses, and recreational
vehicles. The product range comprises axle and suspension systems, fifth
wheels, kingpins, and landing gear and is marketed under the brands SAF,
HOLLAND, and Neway. SAF-HOLLAND sells its products to Original Equipment
Manufacturers (OEMs) on six continents. The Aftermarket Business Unit sells
spare parts to the Original Equipment Service (OES) of the manufacturers
and to end customers and service centers through its own extensive global
service and distribution network. SAF-HOLLAND is one of the few suppliers
in the truck and trailer industry that is internationally positioned in
almost all markets worldwide.
Contact:
SAF-HOLLAND GmbH
Stephan Haas
Hauptstraße 26
63856 Bessenbach
Phone +49 6095 301-617
Stephan.Haas@safholland.de