SAF-HOLLAND acquires Italian manufacturer of axle and suspension systems Assali Stefen
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EQS-News: SAF-HOLLAND SE
/ Key word(s): Takeover
SAF-HOLLAND acquires Italian manufacturer of axle and suspension systems Assali Stefen
Bessenbach, July 19, 2024. SAF-HOLLAND SE ("SAF-HOLLAND"), one of the world's leading suppliers of trailer and truck components, announced today that it has acquired Assali Stefen Srl, an Italian manufacturer of axle and suspension systems based in Verona.
Assali Stefen is a company known worldwide for the development, production and sale of chassis-related components for trailers and semitrailers as well as other special applications. The company currently employs around 70 people and operates a development and production site in Verona, Italy.
With the acquisition of Assali Stefen, SAF-HOLLAND is expanding its product portfolio for standard and special applications, ranging from standard rigid axles to self-steering axles for trailers. At the same time, the acquisition strengthens SAF-HOLLAND's industry position, especially in the EMEA region and New Zealand. The acquisition fits seamlessly into the companies acquired by SAF-HOLLAND with a focus on special axles, KLL (2016) and recently Tecma Srl. In the course of the integration, synergy effects are to be realized through cross-selling and the bundling of resources.
"We are pleased to further strengthen our position in the global commercial vehicle supply market with the acquisition of Assali Stefen," says Alexander Geis, Chairman of the Management Board and CEO of SAF-HOLLAND SE, and adds: "By expanding our product range, especially in the specialty axle segment, we can offer our customers even more innovative one-stop-shop solutions."
The purchase price is in the lower double-digit million-euro range. The transaction is expected to be completed and the company included in the consolidated financial statements of SAF-HOLLAND SE for the first time in the third quarter of 2024.
Contact: Dana Unger VP Investor Relations, Corporate & ESG Communications Tel: +49 6095 301 949
Alexander Pöschl Senior Manager Investor Relations, Corporate & ESG Communications Tel: +49 6095 301 117 alexander.poeschl@safholland.de
Michael Schickling Senior Manager Investor Relations, Corporate & ESG Communications Tel: +49 6095 301 617 michael.schickling@safholland.de
About SAF-HOLLAND SAF-HOLLAND SE is a leading international manufacturer of chassis-related assemblies and components for trailers, trucks, and buses. With its around 6,000 dedicated employees worldwide, the company generated sales of EUR 2.11 billion in 2023.
The product range includes axle and suspension systems for trailers as well as fifth wheels and coupling systems for trucks, trailers, and semi-trailers as well as brake and EBS systems. In addition, SAF-HOLLAND also develops innovative products to increase the efficiency, safety, and environmental friendliness of commercial vehicles. With the brands SAF, Holland, Haldex, V.Orlandi, Neway, KLL and York, the Group achieved strong market positions in the top three positions in the most important regions worldwide in 2023. SAF-HOLLAND supplies manufacturers in the original equipment market on six continents. In the aftermarket business, the company supplies spare parts to manufacturers’ service networks and wholesalers as well as to end customers and service centers via an extensive global distribution network.
SAF-HOLLAND SE is listed in the Prime Standard of the Frankfurt Stock Exchange and is included in the SDAX (ISIN: DE000SAFH001). Further information is available at www.safholland.com.
19.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | SAF-HOLLAND SE |
| Hauptstraße 26 | |
| 63856 Bessenbach | |
| Germany | |
| Phone: | +49 6095 301-949 |
| E-mail: | ir@safholland.de |
| Internet: | www.safholland.com |
| ISIN: | DE000SAFH001 |
| WKN: | SAFH00 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1950149 |
| End of News | EQS News Service |
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1950149 19.07.2024 CET/CEST
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