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ZF Friedrichshafen To Place 20% Stake In Haldex
Haldex's Major Owner ZF To Sell Its 20% Stake In Co
ZF Friedrichshafen Considering Options To Divest Stake In Haldex
Haldex AB is a Sweden-based company that develops, manufactures and distributes products for brake and suspension systems for commercial vehicles. Its operations are divided into two product segments: Air Controls and Foundation Brake. Air Controls area develops and manufactures products for dehumidification and regulation of compressed air in brake systems, such as: air dehumidifiers, air purifiers, air suspension systems, valves and electronically regulated subsystems. Foundation Brake area develops and produces the wheel-brake products that provide the actual braking effect, such as disc brakes, automatic brake adjusters, fordrum brakes and electronic sensor systems. Its customers include manufacturers of heavy trucks, buses and trailers as well as axle manufacturers for these types of vehicles. As of December 31, 2013, the Company owned shares in 23 subsidiaries and affiliates.
Auto & Truck Parts
Instrumentgatan 15, Box 507
Independent Chairman of the Board
President, Chief Executive Officer, Independent Director
Chief Financial Officer
Executive Vice President Operations & Supply Chain
Executive Vice President Marketing & Commercial Support
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Germany's ZF Friedrichshafen <ZFF.UL> said on Thursday it would look to sell its 20% stake in brake systems maker Haldex <HLDX.ST> in a move which could break the ownership deadlock in the Swedish firm dating back to a bidding war in 2017.
* SAYS WE BELIEVE THAT NET SALES FOR 2018 WILL INCREASE COMPARED TO 2017
* CEO SAYS STILL LOOKING AT OPTIONS, BUT IPO IS PRIORITY OPTION
Swedish brake systems maker Haldex reported a rise in fourth-quarter core earnings on Wednesday but said investments in development and expansion in North America and China would hold back profitability in 2018.
* HALDEX ANNUAL STATEMENT, JANUARY - DECEMBER 2017: STRONG END TO THE YEAR
* Haldex AB Q3 operating income, excluding one-off items, SEK 68 mln (80)
* The Board of Directors has as of today appointed Åke Bengtsson to the role of permanent President and CEO
German commercial vehicle brake systems company Knorr-Bremse [STELLG.UL] is considering a stock market listing, Handelsblatt newspaper said on Tuesday, after it dropped its near $700 million bid for Swedish rival Haldex <HLDX.ST>.
German vehicle brake systems maker Knorr-Bremse has dropped its 5.5 billion crown ($692 million) bid for smaller Swedish rival Haldex <HLDX.ST>, ending for now a heated bidding process that has lasted more than a year.
German automotive supplier ZF Friedrichshafen will not reenter the race for Swedish brake-systems maker Haldex after Knorr-Bremse dropped its 5.5 billion Swedish crown ($693 million) bid, it said on Tuesday.
German brake systems maker Knorr-Bremse on Thursday withdrew its 5.5 billion crown ($692 million) bid for smaller Swedish rival Haldex, ending a bidding process which lasted more than a year.
* WITHDRAWS ITS OFFER FOR HALDEX AND TERMINATES MERGER CLEARANCE PROCESS
* Knorr-Bremse withdraws its offer for Haldex and terminates merger clearance process
* Says to assess whether possible to continue merger clearance process for Haldex AB takeover Source text for Eikon: Further company coverage:
German brake systems maker Knorr-Bremse's attempt to buy Swedish rival Haldex was dealt a blow on Thursday when Sweden's securities regulator rejected its request to extend the acceptance period for its bid.
The Swedish Securities Council on Thursday turned down German brake systems maker Knorr-Bremse's request for an extension of the acceptance period of its bid for Swedish rival Haldex, a major setback to Knorr's takeover efforts.
* Says has today submitted its response to Knorr-Bremse’s application where they request the Swedish Securities Council to extend the offer period to February 9, 2018.
A meeting of shareholders in Swedish vehicle brake systems maker Haldex voted on Thursday to back German suitor Knorr-Bremse's request for an extension of the bid acceptance period until next year, while it seeks to overcome regulatory objections to the takeover.
* Says regards EGM resolution to be Haldex' official position and binding to board of directors
* Says will communicate the exact result from the voting together with further comments later today
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