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February 1, 2011 | Press release
Haldex Traction Systems Division Divestment to BorgWarner Inc. completed
Following clearance from competition authorities, the previously announced divestment of the Traction Systems Division was closed on 31 January 2011.

"We are very pleased with the successful divestiture of Traction Systems Division to BorgWarner, which provides a good, strategic fit. BorgWarner is a financially strong and experienced owner with the resources to accelerate its growth in the all wheel drive market", says Joakim Olsson, CEO of Haldex.

"This is also a very good solution for our shareholders. The purchase price of SEK 1,425 m reflects the quality of Traction's business and the future earnings potential with the new owner".

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