DGAP-News: JOST Werke AG / Key word(s): Mergers & Acquisitions/Miscellaneous
JOST closes acquisition of leading manufacturer of agricultural front loaders Ålö Holding AB
- Antitrust authorities approve transaction without restrictions
- Ålö Holding AB will be consolidated as of February 1, 2020
- JOST completes closing of the transaction
The responsible antitrust authorities approved the acquisition without restrictions. The closing of the transaction was completed on January 31, 2020. JOST used EUR 50 million cash in addition to debt to finance the transaction. Ålö is expected to be included in the scope of consolidation of JOST as of February 1, 2020.
Ålö is headquartered in Umeå, Sweden. It has production sites in Sweden, China, the U.S. and France as well as sales offices in all significant markets. The company develops, produces and markets its agricultural applications under the internationally renowned brand Quicke. The acquisition will transform JOST's existing agricultural business into another cornerstone of the group.
The new outlook for fiscal year 2020, including the expected sales and earnings contribution of Ålö, will be published together with the Group Annual Report 2019 on March 25, 2020.
JOST is a leading global producer and supplier of safety-critical systems for commercial vehicles. The Company offers branded quality products clustered in three systems: Vehicle Interface (focusing on products required to operate a commercial vehicle combination of trucks and trailers such as fifth wheels and landing gears), Handling Solutions (including container technology and hydraulic cylinders products) and Maneuvering (focusing on truck and trailer axles and forced steering). As the number one supplier of fifth wheels and landing gears globally, JOST is the market leader for Vehicle Interface systems. JOST's global leadership position is driven by the strength of its brands, by its long-standing client relationships serviced through its global distribution network as well as by its efficient and asset-light business model. The Company's core brands "JOST", "ROCKINGER", "TRIDEC" and "Edbro" are well-recognized in the industry and highly regarded for their quality and continuous innovation. With its sales and production facilities in 22 countries across five continents, JOST has direct access to all major truck and trailer manufacturers and relevant end customers. JOST currently employs about 2,900 staff worldwide and has been listed on the Frankfurt Stock Exchange since 20 July 2017.
JOST Werke AG
31.01.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
JOST Werke AG
+49 6102 2950
+49 (0)6102 295-298
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
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