G&D has assisted BorgWarner, Inc. in the acquisition of all shares in Haldex Traction Holding AB (“Traction”).
The purchase price amounts to MSEK 1,425 on a cash and debt free basis. The transaction is conditional on approval from competition authorities.
Traction is a leading player in the market for four wheel drive systems for passenger vehicles. Its customers include Volkswagen (including Audi, Skoda, Seat, Lamborghini and Bugatti), Volvo, Land Rover and GM. The production facilities are located in Landskrona (Sweden), Irapuato (Mexico) and Szentlörinckata (Hungary). As per September 30, 2010 Traction had 329 employees.
BorgWarner Inc. is a product leader in highly engineered components and systems for vehicle powertrain applications worldwide. BorgWarner Inc. has approximately 16,000 employees worldwide and its customers include Volkswagen/Audi, Ford, Toyota, Renault/Nissan, General Motors, Hyundai/Kia, Daimler, Chrysler, Fiat, BMW, Honda, Deere & Company, PSA, and MAN.