Combined Company Will Have Scale and Scope Necessary to Compete Successfully in Global Truck and Trailer Marketplace.
HOLLAND, MICHIGAN, USA and BESSENBACH, GERMANY; December 6, 2006 –The Holland Group, Inc. and Otto Sauer Achsenfabrik GmbH (SAF) today announced that they have signed a definitive agreement which will result in the merger of the two companies. SAF is a supplier of integrated axle and suspension systems for trailers, with headquarters in Germany. Holland Group is a leading supplier of coupling, lift and suspension systems for trucks, tractors and trailers, with headquarters in Michigan, USA. Terms of the arrangement were not disclosed; the merger is expected to occur by year-end.
Both companies are world-class original equipment suppliers with highly complementary products, leading market positions, strong management teams, and excellent design, engineering, production and testing technologies. The merger creates a truly global supplier of transportation equipment with the critical mass required to compete in the market with twenty-six manufacturing and warehousing facilities worldwide. The two companies also share a similar history. Both began as suppliers of horse-drawn agricultural products before evolving into suppliers to the heavy transportation industry, and both have been privately-held family businesses.
The Holland Group is an internationally recognized leader in the design, manufacture and distribution of quality engineered components to the transportation industry, specializing in coupling, lift and suspension systems for trucks, tractors and trailers. Products include tractor fifth wheels and trailer landing gear, suspensions, kingpins, couplers and roll formed components. Holland Group products are standard equipment at original equipment manufacturers, with significant presence in the United States, Canada and Mexico, and are sold and serviced by more than 2,500 distribution locations.
SAF is a recognized specialist in integrated axle and suspension systems for trailers, offering exceptional product features and superior operating efficiency. The systems are comprised of trailer axles, suspensions and braking systems and have been supplied to vehicle manufacturers, fleet owners and freight forwarders for over fifty years. SAF focuses on meeting customer requirements with high performance products and positions itself as both a supplier and partner to the purchasers and users of their products worldwide. SAF products are standard equipment with major trailer builders, with significant presence in Europe, and are sold and serviced by more than 2,100 outlets.
After the merger, the two companies will be subsidiaries of SAF-HOLLAND GROUP GmbH headquartered in Bessenbach, Germany with combined annual turnover of approximately $975 million. The company will employ 3,000 people worldwide. Its combined product portfolio will be marketed under the Holland and SAF brand names.
Contact:
The Holland Group, Inc.
Ray Behrens 616.396.6501
SAF
Detlef Borghardt
49.60.95.301.103
Websites:
Holland Group: www.thehollandgroupinc.com
SAF: www.saf-achsen.de