6 posts tagged “holland”
06/08/06
Source: http://www.ownerdriver.com.au/article4Techlines.cfm?StoryID=29535
A spokesperson for American heavy vehicle component firm Holland Hitch says the news of the merger with German heavy vehicle axles and suspension firm Otto Sauer Achsenfabrik (SAF), came as a surprise.
"We really don’t want to make any comments because we really don’t know what is happening at this stage in the Australian operations."
In the meantime, "we have been told it is business as usual for the moment".
"We’ll know more next year, then our General Manager Jim Wilson will be happy to make a comment on the direction the company will take," the spokesperson told fullyloaded.
"At this point we are unsure if we’ll be taking on more products [SAF line] in Australia."
11/06/04
Source: http://www.chinadaily.com.cn/english/doc/2004-06/11/content_338696.htm
The Holland Group, a global supplier of innovative vehicle coupling, lift and suspension system products to the heavy duty transportation industry, announced this week that it has signed a license agreement with Zhenjiang Baohua Semi-Trailer Co Ltd to manufacture Holland landing gear products under license for China and other Pacific Rim markets.
The licensee agreement allows The Holland Group to move forward with a local manufacturing firm that has a strong, established presence in the fast-growing truck and trailer industry in China. Industry statistics indicate the market in China for heavy trucks and trailers had increased quickly over recent years, and projections for high levels of continued economic growth and investment would drive further demand for transportation.
"This partnership will allow Holland to bring its world-class design and innovative product features to a market that is not only growing rapidly, but also looking for the type of advancement in product technology that Holland has already brought to other markets around the world," said Jeffrey Talaga, Managing Director -- Holland China.
"While the initial phase of the partnership will be limited to the manufacture and distribution of landing gear products, we expect that in the near future we will expand our efforts to include other Holland products."
Holland's partner company, Zhenjiang Baohua Semi-Trailer Co Ltd, was established in 1995 and currently produces a line of fifth wheels, landing gear, trailer axles, suspensions and other related components.
Their office, manufacturing, and distribution facilities are located in zhenjiang, Jiangsu Province near Nanjing, and are geographically situated to serve the truck and trailer OEM's in China. Mr Talaga will oversee all aspects of the partnership from the Holland International Beijing Representative Office coupled with a technology liaison provided by Holland's design and engineering centers located in the United States.
16/03/06
HOLLAND, MI, March 16, 2006 – The Holland Group, Inc. (Holland) has announced the release of its Integrated, Low-Weight, Slider System (the “ILS”), which promises to reduce the weight of traditional fifth wheel/slider combos by up to 27% (151 lbs) when compared with competitive offerings.
The ILS is compatible with the Holland FW35, FW31 and FW17 fifth wheel models and is available in 7, 8, and 9 inch mounting heights and travel lengths of 12, 24, 36 and 48 inches.
Holland sliding fifth wheels provide the capability to transfer weight between tractor axles, accommodate trailers with different kingpin settings and vary vehicle combination lengths. Additionally, Holland sliding fifth wheels also offer maximum equipment flexibility, improved maneuverability and exceptional ride comfort.
20/03/06
HOLLAND, MI, March 20, 2006 – The Holland Group (Holland) has announced the introduction of its CB2300 Trailer Air Suspension/Axle System. The CB2300 is a 23,000 pound capacity offering for the fixed frame specialty trailer market.
The CB2300 features SwingAlign™, the industry's fastest and most convenient axle alignment system, high strength cast equalizing beams that provide exceptional strength, as well as significant weight-savings and cost value. Holland’s patented SwingAlign™ technology has gained widespread market acceptance since its introduction in 2004 on Holland’s CB4000 Trailer Air Suspension/Axle System.
“The CB2300 will significantly advance our specialty offering,” said Ken Griswold, Trailer Suspension Systems Product Manager for The Holland. “The product has new technologies, reduced weight and will be a unitized system with value added features such as SwingAlign™ and extended life brake linings positioned as standard features.”
?/11/06
Source: http://www.hollandhitch.com.au/NewsArticle.cfm?Record=39
THE HOLLAND GROUP, INC. AND OTTO SAUER ACHSENFABRIK GmbH ANNOUNCE MERGER PLANS
The Holland Group Inc and Otto Sauer Achsenfabrik GmbH Announce Merger Plans
Combined Company Will Have Scale and Scope Necessary to Compete Successfully in Global Truck and Trailer Marketplace.
HOLLAND, MICHIGAN, USA and BESSENBACH, GERMANY; December 6, 2006 –The Holland Group, Inc. and Otto Sauer Achsenfabrik GmbH (SAF) today announced that they have signed a definitive agreement which will result in the merger of the two companies. SAF is a supplier of integrated axle and suspension systems for trailers, with headquarters in Germany. Holland Group is a leading supplier of coupling, lift and suspension systems for trucks, tractors and trailers, with headquarters in Michigan, USA. Terms of the arrangement were not disclosed; the merger is expected to occur by year-end.
Both companies are world-class original equipment suppliers with highly complementary products, leading market positions, strong management teams, and excellent design, engineering, production and testing technologies. The merger creates a truly global supplier of transportation equipment with the critical mass required to compete in the market with twenty-six manufacturing and warehousing facilities worldwide. The two companies also share a similar history. Both began as suppliers of horse-drawn agricultural products before evolving into suppliers to the heavy transportation industry, and both have been privately-held family businesses.
The Holland Group is an internationally recognized leader in the design, manufacture and distribution of quality engineered components to the transportation industry, specializing in coupling, lift and suspension systems for trucks, tractors and trailers. Products include tractor fifth wheels and trailer landing gear, suspensions, kingpins, couplers and roll formed components. Holland Group products are standard equipment at original equipment manufacturers, with significant presence in the United States, Canada and Mexico, and are sold and serviced by more than 2,500 distribution locations.
SAF is a recognized specialist in integrated axle and suspension systems for trailers, offering exceptional product features and superior operating efficiency. The systems are comprised of trailer axles, suspensions and braking systems and have been supplied to vehicle manufacturers, fleet owners and freight forwarders for over fifty years. SAF focuses on meeting customer requirements with high performance products and positions itself as both a supplier and partner to the purchasers and users of their products worldwide. SAF products are standard equipment with major trailer builders, with significant presence in Europe, and are sold and serviced by more than 2,100 outlets.
After the merger, the two companies will be subsidiaries of SAF-HOLLAND GROUP GmbH headquartered in Bessenbach, Germany with combined annual turnover of approximately $975 million. The company will employ 3,000 people worldwide. Its combined product portfolio will be marketed under the Holland and SAF brand names.
01/07/98
Source: http://trailer-bodybuilders.com/mag/trucks_fruehauf_proposes_reorganization/
The first amended joint plan of reorganization for Fruehauf Trailer Corporation was proposed in a disclosure statement dated June 24 in the United States Bankruptcy Court for the District of Delaware. Fruehauf and its affiliated companies entered Chapter 11 bankruptcy on October 7, 1996, and since then Fruehauf's major assets have been sold. The debtor is proposing a plan for the further reorganization and disposition of assets.
Fruehauf's axle plant in Delphos, Ohio, was sold at auction February 18, 1997, to Holland Hitch Company for $14,390,000 plus the value of the inventory.
Fruehauf's US manufacturing and sales distribution business was sold March 17, 1997, at an auction where Wabash National Corporation was the sole bidder. Wabash offered $19 million in cash, one million shares of Wabash common stock, and $17.6 million of par value Wabash preferred stock. This price includes $4 million bid on the day of sale to include purchase of the Fruehauf van manufacturing plant in Fort Madison, Iowa. Fruehauf has since sold 800,000 of the million shares of Wabash common stock to Merrill Lynch, Pierce Fenner & Smith for $21,232,987.
Although Holland Hitch and Wabash agreed to hire many of the Fruehauf employees, they did not agree to assignment of the approximately 40 collective bargaining agreements in connection with the purchases. The bankruptcy court approved termination of Fruehauf's collective bargaining agreements on May 29, 1997.
Fruehauf had approximately 1,800 retirees and dependents of retiree entitled to medical benefits. Fruehauf, which was self-insured for all of the benefits, continued uninterrupted payment of the benefits through April 15, 1997, the day prior to the closing of the Wabash sale. Nearly 90% of the retirees were employees of K-H Corp prior to Fruehauf's acquisition of K-H. The bankruptcy court terminated all retiree benefits on May 29, 1997.
Fruehauf has commenced an action with respect to Fruehauf Trailer Corporation Retirement Plan Number 3, alleging that an increase in pension benefits to certain non-union, long-time employees approved just three weeks before Fruehauf entered bankruptcy was a fraudulent transfer that should be voided.
Fruehauf International Limited still owns a 99.99% equity interest in Fruehauf de Mexico SA de CV, located about 45 minutes north of Mexico City. The 108,000-sq-ft plant has the capacity to build about 1,900 trailers per year on a single shift basis without overtime. The plant employs 417 and manufactured 198 trailers in January 1998, primarily for sale in Mexico. Fruehauf de Mexico estimates it has a 35% share of the Mexican market, and that its main competitors are Ramirez with a 20% share, Caytressa with 15%, and Gonzales, Rocsa, Retessa, and others with about a 5% share each. As of February 1997, Fruehauf de Mexico had assets of $13.8 million and Liabilities of $6.8 million.
Other real property owned by Fruehauf has some value but is tied up in legal proceedings or has environmental problems.
After the sale of Fruehauf's domestic sales and manufacturing business, the company canceled its lease and office space in Indianapolis and moved books and records to California near the homes of current officers.
Current Fruehauf officers and their annual compensation are: Chriss W Street, chairman, president and CEO, $270,000; James Wong, CFO and treasurer, $78,000; Worth W Frederick, vice-president, $90,000; and Courtney Watson, secretary, $65,000. When the reorganization plan is approved, these four will receive bonuses of: Street, $350,000; Frederick, $100,000; Wong, $50,000; and Watson, $50,000. They would continue working for the liquidating trust and/or for Fruehauf de Mexico after the plan is approved.
All of Fruehauf's assets are encumbered by liens in favor of the holder of senior notes worth about $58 million as of the bankruptcy filing date plus accrued interest since then. After paying other short-term borrowings, Fruehauf's assets total less than the principal amount owed to the holders of the senior notes. The senior noteholders could foreclose their liens in all of Fruehauf's assets, leaving nothing for other creditors. However, the holders of the senior notes have agreed to a plan that provides for the payment of allowed administrative, priority, and pre-petition tax claims, and for a potential distribution to general unsecured creditors.
Over $936 million of unsecured claims have been asserted against Fruehauf. The plan does not attempt to estimate the amount of unsecured claims that ultimately will be allowed. Fruehauf scheduled $49 million in unsecured claims, but unliquidated and disputed claims that ultimately may be allowed might increase the total unsecured debt above the scheduled amount.
Secured and some unsecured creditors would have voting rights to approve or reject the proposed plan. Holders of old common stock and old warrants would have no voting rights and would receive no distribution under the plan. All old common stock and old warrants would be canceled.
The unsecured creditors committee currently consists of four members: Southern Fabricators Inc, Decatur Aluminum Corp, Aluminum Co of America (ALCOA), and Goodyear Tire and Rubber Co.
