Haldex divests Traction Systems to BorgWarner
Haldex to divest its Traction Systems Division to BorgWarner for SEK 1.4 billion. Traction Systems Division is a leading supplier of four wheel drive systems for private cars.
Haldex, 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 had net sales of approximately SEK 5.5 billion in 2009 and approximately 4,000 employees. The company’s share is listed on NASDAQ OMX Stockholm.
Haldex was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Biörn Riese, primarily assisted by Joel Mårtensson, Tobias Bergström, Victoria Bagger-Sjöbäck and Lisa Ericsson.