Main Owner ZF´s Sale is Welcomed

STOCKHOLM, Sept. 20, 2019 /PRNewswire/ -- "I might go so far as to call it an early Christmas present to both Haldex and our customers. If I could wish for another, it would be that Knorr-Bremse should now be inspired by the message and begin the process of selling its stake as well." In this way, a very content Jörgen Durban, Chairman of the Board of Haldex, summarizes ZF's message that the company has sold its holding and thereby now leaves Haldex on Friday morning.

It was after the stock exchange´s closing on Thursday that ZF announced that the company was initiating the process of divesting its holding in Haldex. Although the company already announced on September 12 that a sale was to be expected, Haldex is pleasantly surprised that the process went so fast.

"We knew that ZF was very anxious to remove everything that was in the way of getting the Wabco deal approved by the competition authorities, but I am still surprised that they have moved with such high pace to solve this in only one week.", says Jörgen Durban

Haldex believes that Thursday's sale will open more doors for strategic partnerships. In that regard, the message also comes at an almost optimal time since more and more people are starting to realize that the entire industry is currently facing a shift in technology with self-driving and electrification as the key components.

"The fact is that Haldex has an advantage in certain technology areas linked to the technology shift. However, one of our owners having had interests in two competing players on the brake market has meant that we were not fully regarded as a long-term partner for several customers, as our perhaps even immediate future was perceived as uncertain.", says Jörgen Durban.

Haldex does not want to speculate on who acquired ZF's shares.

"As I said, for both our customers and us it is more important that ZF leaves than Haldex acquiring a 'perfect' owner. Of course, this also applies to Knorr-Bremse. I will therefore sit down with our legal advisers next week to see what means we have for getting Knorr-Bremse to sell as well.", Jörgen Durban concludes.

For further information contact:

Jörgen Durban, Chairman of the Board, +46-418-476000

Catharina Paulcén, SVP Corporate Communications, catharina.paulcen@haldex.com or +46-418-476157

The information was submitted for publication by the Haldex media contact stated in the release on September 20, 2019 at 9.48 CEST.

This document is essentially a translation of Swedish language original thereof. In the event of any discrepancies between this translation and the original Swedish document the latter shall be deemed correct.

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SOURCE Haldex