Deutschland/Singapore: SAF Holland Gmbh1 of Deutschland acquired York Transport Equipment (Asia) Pte. Ltd2 of Singapore valued USD67.26m on March 2018 to create a monopoly in trailer axle and suspension systems in India.
Acquisition to rapidly expand company's position in the fast-growing APAC/China transportation markets.
York has significant operations in other fast-growing Southeast Asian markets, such as Thailand, Indonesia and Vietnam besides Australia
Dr Matthias Heiden, CFO, SAF-HOLLAND Gmbh said "The York Group will make a positive contribution to the Group's earnings already in the first year following the acquisition. We will immediately integrate the company into SAF-HOLLAND Group's structures. We are confident that we will be able to develop the adjusted EBIT margin closer to the Group average within a few years by realizing synergies and taking advantage of cross-selling opportunities. With this in mind, we believe that we have made not only a strategically outstanding investment but also one that is financially attractive."
1SAF Holland Gmbh, a leading global producers of key chassis systems and components for mostly the trailer but also the truck, bus and vocational vehicle industry. 27 subsidiaries featuring 17 manufacturing sites on six continents. 3,500 employees. Network of approx. 10,000 aftermarket spare parts and service stations around the world
2York is engaged in manufacturing and distribution of trailer axles, trailer suspensions and trailer components. York employs 220 staff and 90 contract workers. Manufacturing facilities in India and China; assembly lines in Singapore and Australia, Research and development centers in India, Australia and Singapore
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