A provision will be made in the report for the first quarter 2006. Some portion of the outstanding amount will be recovered, so at present it is not possible to decide the amount that has to be written off. Haldex is working together with Dana and the court in order to find the best possible solution. Dana has carried out a re-financing plan and will continue operations as before. Haldex will deliver to Dana according to the new financing structure. For further information please contact Joakim Olsson, President and CEO, or Stefan Johansson, CFO, phone +46 8 545 049 50.
March 8, 2006 | Press releaseDana has filed for Chapter 11
On Friday March 3, 2006, Dana Corporation announced that their North American operations had filed for reorganization under Chapter 11 as from this date, which means that they are protected against creditors. Haldex exposure in form of outstanding receivables amount to approx. 30 MSEK.