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DGAP-News: JOST Werke AG / Key word(s): Miscellaneous/Miscellaneous
JOST sells its Edbro hydraulic cylinder business to Enact and its fund manager Endless LLP
Neu-Isenburg, May 17, 2021. JOST Werke AG ("JOST"), a leading global producer and supplier of safety-critical systems for the commercial vehicle industry, sold its Edbro hydraulic cylinders business to Enact and its fund manager Endless LLP.
Following the review of its organic and external expansion strategy, JOST decided to divest its Edbro hydraulic cylinder business to focus on other identified strategic growth opportunities in the transportation and agricultural commercial vehicle segment. Enact and Endless LLP, which have acquired Edbro Ltd (formerly JOST UK Ltd.), demonstrated that their future plans for Edbro are well aligned with Edbro's and JOST's objectives.
JOST will continue to distribute Edbro products to customers and ensure a seamless customer experience. The transaction will have no impact on JOST's outlook for fiscal year 2021, which the company confirms.
JOST is a leading global manufacturer and supplier of safety-relevant systems for the commercial vehicle industry with its core brands JOST, ROCKINGER, TRIDEC and Quicke. JOST's global leadership position is driven by the strength of its brands, its long-standing client relationships serviced through its global distribution network, and its efficient and asset-light business model. With sales and production facilities in 25 countries across five continents, JOST has direct access to all major truck, trailer and agricultural tractor manufacturers as well as relevant end customers in the commercial vehicle industry. JOST currently employs more than 3,000 staff across the world and has been listed on the Frankfurt Stock Exchange since July 20, 2017. For more information about JOST, please visit https://www.jost-world.com
17.05.2021 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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