Frauenthal closes sale of the majority of the 'leaf springs and stabilisers' business

  • On 23 December 2014 the closing of the transaction took place.
  • The transfer of title to the purchaser takes place as of 1 January 2015. 

Today, Frauenthal successfully closed the sale of a large part of its 'leaf springs and stabilisers' business (part of Frauenthal Automotive) to TBC Netherlands. TBC Netherlands is an affiliate of Hendrickson, a worldwide leading manufacturer and supplier of heavy springs, integrated axle systems and heavy-duty suspensions for commercial vehicles. As already reported several times by the Frauenthal Group, TBC Netherlands acquires the 'leaf springs and stabilisers' operations and businesses in Austria, France and Romania according to the share purchase agreement executed on 18 June 2014. The preliminary price is approximately €20 million and will be paid by the purchaser mainly by settling certain financial debt that the operations and businesses sold have vis-à-vis Frauenthal Group. The transfer of title to TBC Netherlands and Hendrickson, respectively, will occur as of 1 January 2015.

 

About the Frauenthal Group:

Vienna-listed Frauenthal is a diversified group consisting of two business divisions: Frauenthal Automotive and Frauenthal Trade. Frauenthal Automotive is a market and technology leader in the European commercial and passenger vehicle industry, as well as a leading development partner. It produces stamped and welded metal parts, air reservoirs, U-bolts at 10 sites in seven European countries and China. Frauenthal Trade, a leader in its Austrian home market, comprises Austrian plumbing supplies wholesalers SHT and ÖAG as well as civil engineering and industrial specialist Kontinentale. The Frauenthal Group employed around 3,700 people on average in 2014.

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