21st
July 2010 - Further
Concentration of Haldex CVS’ North American Manufacturing to the Plant
in Monterrey, Mexico
As a final step in the earlier announced
Cost-Reduction Program, Haldex conducted a review of Commercial Vehicles
Systems’ (CVS) production structure in North America. The review
resulted in measures for a further concentration of CVS’ North American
manufacturing to the Haldex plant in Monterrey, Mexico.
The plant is located in a region of
increasing significance for the North American automotive industry
and has recently undergone an investment program.
Within the framework of the review,
manufacturing from Haldex’s plant in Iola, Kansas, will be relocated
to Monterrey, whereupon the operation in Iola will be discontinued
during the second half of 2010. The production of brake cylinders
was relocated to the operation in Monterrey earlier.
Costs for the planned measures will
amount to USD 5.6 m (about SEK 45 m) and will generate annual
savings of USD 6 m (about SEK 50 m).
In addition, personnel cutbacks are
planned for certain areas of CVS’s operations, the costs for which
are expected to amount to SEK 10-15 m, and will generate annual
savings of approximately the same amount.
The costs will be charged to earnings
in the third quarter of 2010.
For additional information, please
contact:Joakim Olsson,
President and Group CEO, phone +46 8 545 049 52 or Stefan Johansson,
CFO, phone +46 8 545 049 51.
Haldex (www.haldex.com (http://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 5.5 billion SEK in 2009. The
number of employees amounts to about 4,000.
Source:
Haldex Press Release