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Georg Fischer AG & Co in Singen, a corporate subsidiary of Georg Fischer AG, Schaffhausen (Switzerland), is to sell all the shares in Georg Fischer Verkehrstechnik GmbH, Singen (Germany) to the SAF-HOLLAND S.A. (Luxemburg).
The divestment is part of the efforts of GF Automotive to focus on its core business of automotive casting. Georg Fischer Verkehrstechnik manufactures and sells fifth wheel couplings and Trilex wheels for the commercial vehicle sector. In 2007 it generated sales of approximately CHF 100 million. The SAF-HOLLAND Group is a leading global provider of complex, high-quality components and systems for the transportation industry. It has annual sales of some CHF 1.3 billion and approximately 3,000 employees worldwide. The business in Singen will be continued unchanged under the new owner with the current management and the 80 employees. The transaction is subject to the clearance by the competition authorities.
The sale of Georg Fischer Verkehrstechnik to the SAF-HOLLAND Group and the continuation of the company's activities at the Singen location is a good, long-term solution for both parties. Georg Fischer Verkehrstechnik will benefit from a worldwide market presence in a new and expanded environment, working together with experienced partners. Through its takeover of Georg Fischer Verkehrstechnik, the SAF-HOLLAND Group will gain matching products and additional market share and will reinforce its strong position especially in Europe and the USA.