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Scandinavian Brake Systems A/S Announces Restructuring; Maintains FY 2012 Financial Guidance

Friday, 2 Nov 2012 08:57am EDT 

Scandinavian Brake Systems A/S announced that its Board of Directors has on November 2, 2012 decided to carry out a legal separation and division of SBS group, so that it will consist of three business areas. The Group will consist of the three business areas: SBS Automotive A/S, SBS Friction A/S and Notox A/S. SBS Automotive A/S represents the Group’s activities within the automotive area, primarily renovation of brake calipers and sourcing, completion and distribution of brake parts and related spare parts for cars. SBS Friction A/S includes the Group's activities in the development, production and sale of friction technology products for motorcycles, windmills and a number of specialized areas. Notox A/S includes production of diesel particulate filters on subcontract. Group management, economics and other group-related special functions will be located in the Company. The existing companies SBS Automotive A/S and SBS Friction A/S will be transferred from Notox Holding A/S to the Company. Subsequently, there will be conducted a transfer of assets and liabilities at fair values for activities SBS Automotive and SBS Friction from the Company to SBS Automotive A/S and SBS Friction A/S respectively. The Company has also maintained its fiscal year 2012 financial guidance. It still expects to report fiscal year 2012 revenue in a range of between DKK 950 million and DKK 1,000 million and fiscal year 2012 EBITDA in a range of between DKK 60 million and DKK 70 million. 

Company Quote

0.4 +0.95%
22 Oct 2014