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Jan 1, 2009 12:00 PM

SAF-Holland S.A. and Georg Fischer AG, Schaffhausen (Switzerland), have agreed that SAF-Holland will acquire all the capital shares of Georg Fischer Verkehrstechnik GmbH, Singen, a subsidiary of Georg Fischer AG. The acquisition strengthens SAF-Holland's position in the European market for fifthwheels.

Georg Fischer Verkehrstechnik, which produces and sells fifthwheels and trilex wheels for the commercial vehicle sector, generated sales in 2007 in excess of 60 million Euros with approximately 80 employees. SAF-Holland is expecting from the transaction an above-average positive effect on the overall result for 2009, thus allowing it to continue the existing business activities of the Singen-based company. This transaction requires the approval of merger control authorities. The parties have agreed not to disclose the purchase price.