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

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 took place as of 1 January 2015.

On 23 December 2014 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 Ventures Corporation, 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, occurred as of 1 January 2015.