GERMANY - Pamplona's Saf-Holland completes restructuring

The facility has been in place since February 2008, with the first repayments of principal due to be made in February 2012.

The restructuring measures are expected to result in savings of EUR 62m by the end of 2009. Moreover, inventory reductions have led to a considerable decrease in the company's net working capital needs.

Based in Bessenbach, Germany and registered in Luxemburg, Saf-Holland reported more than EUR 800m in sales in 2008 with over 2,000 employees. The business generated operating cash flow of EUR 29m in the first nine months of 2009.

The company is a manufacturer and supplier of systems and components primarily for trailers as well as trucks, buses and recreational vehicles. The product range encompasses axle and suspension systems, fifth wheels, coupling devices, kingpins, and landing legs. Customers include large truck and trailer producers.

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• Topics
• Restructuring
• DACH