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SAF-Holland, aiming for capital


MUNICH. The truck supplier SAF-Holland looking for new investors. "The sustainable improvement of the capital structure remains our goal," said SAF CEO Rudi Ludwig the Handelsblatt. "A capital increase is possible in the discussion, but there are no decisions taken," he said. This also applies to the question of whether SAF-Holland will get the money in the market or institutional investors.

Almost five percent of equity is the truck supplier to the crisis remains. Ludwig considers the medium term, however, a quota of 20 to 25 percent necessary to correspond to the currently worth around 50 million €. The money raised will pay off, especially the debt of the past: Not binding burden of around € 300 million on the balance that must be served after a debt restructuring with 8.3 percent interest.

Of a possible capital increase has business operations back on track. The marked upturn in the truck business helps the company. "All businesses are to the end of 2010 operating in the black," promised Ludwig, submitted by the middle of November, the figures for the third quarter. "The sales forecast of 550 million euros, we have conservatively," explained the CEO.

SAF-Holland, came as the entire trucking industry in recent years mainly under the wheels. was added at the peak of the boom a risky transaction: 2007 threaded of the financial investor Pamplona the merger of the Saur axle factory with U.S. suppliers Holland.

The industry crisis hit, the new team hard, 2009, sales of previously broke a € 800 million to 440 million euros. The restructuring expert Rainer bag dismissed nearly half the workforce and prevented the bankruptcy. In December of 2009, Louis the lead, in May 2010 Pamplona sold its 34 percent share of 14 independent investors.

Since then the industry wakes up from slumber. The major manufacturers Daimler and MAN have completed the short-time work and write back profits. The moves with the suppliers: "The markets will grow in Europe and North America in the coming years with 10 to 15 percent," says Ludwig. Even this estimate, he sees it as conservative.

The Franks will benefit from this: "By 2014 we want to achieve through organic growth, sales of one billion euros," said the SAF’s CEO. It is intended to distribute the revenue equally to Europe and the U.S., another 100 million will come from the business in Brazil and China.