25 posts tagged “saf-holland”
19/11/09
SAF-HOLLAND S.A. turned the earnings corner in the third quarter, returning to positive adjusted earnings (EBIT). The Company benefited from a highly successful restructuring of its operating business with a comprehensive cost reduction program, as well as a stabilization of sales and first signs of a return to growth in the Company's end markets. SAF-HOLLAND has thus successfully repositioned its operating and financial performance to reflect market conditions, establishing a solid base from which to achieve performance improvements going forward.
Dr. Reiner Beutel, CEO of SAF-HOLLAND group: 'SAF-HOLLAND is benefiting from the Group-wide restructuring of the operating business. We are now leaner and stronger. As a global supplier of quality systems and components for the commercial vehicle industry, we are thus perfectly positioned to participate in a major way in the expected upturn in the commercial vehicle market. We are already seeing the first signs of a recovery after an unprecedented downturn in the global commercial vehicle market.'
The Company has also made important progress with its banking syndicate on restructuring and extending existing financing facilities. Further to the recently announced standstill agreement extension to November 25, the Company expects to announce agreement with its banking syndicate in the near term. The objective of the new financing agreement is to put the Company on a solid financial footing in the long-term and to create sufficient financial flexibility to allow the Company to complete its operational restructuring and follow its planned growth path.
Sales stabilizing Parallel to the earnings trend reversal, sales stabilized in comparison to previous quarters. Sales in the third quarter amounted to EUR 103.1 million which reflects a slight upturn compared to the second quarter. The adjusted EBIT climbed to EUR 2.5 million compared to EUR -0,8 million in the second quarter. With EUR 6.5 million, adjusted EBITDA more than doubled compared to EUR 3.0 million in the previous quarter. Importantly, there has been a stabilization of sales and some signs of a return to growth are now visible in the global commercial vehicle market. In the first nine months of the year, the Group achieved sales in the amount of EUR 316.4 million (previous year: EUR 646.3 million). In particular, the Powered Vehicle Systems and Aftermarket Business Units, both of which exceeded their performance from 2008, cushioned the considerable decline of the Trailer Systems Business Unit.
Restructuring facilitates turnaround The stable gross margin of 16.8% (previous year: 16.9%) is proof of the success of the restructuring measures with extensive savings in personnel and non-personnel expenses. Overhead costs were also reduced to EUR 12.4 million. Adjusted EBIT amounted to EUR 1.2 million in the first nine months of this year.
Trailer Systems shows stable sales development compared to previous quarter In the third quarter, sales in the Trailer Systems Business Unit of EUR 41.0 million stabilized at the level of the second quarter. While the month of August was, as expected, quiet in Europe, the trailer business was able to make up for lost ground in September. A slight increase was also seen in August in North America. Another positive factor was the production of our own axle systems in the USA, which got underway in February. The number of orders for axle systems with disc brakes, which were first presented in America at the Mid-American Trucking Show at the beginning of the year, is still exceeding expectations. Sales in the first three months were EUR 130.5 million (previous year: EUR 451,3 million) and the gross margin decreased to -3.6% (previous year: 11.9%) due to the high under-utilization.
Powered Vehicle Systems sees growth of 20% over previous year The Powered Vehicle Systems Business Unit benefited from a slight upturn in the market in the USA, while business in Europe saw increasing stabilization. Year to date sales grew by 20.9% to EUR 73 million (previous year: EUR 60.4 million) and were EUR 24.1 in the third quarter compared to EUR 22.2 million in the second quarter. The sales increase over the previous year resulted primarily from the acquisition of the former Georg Fischer Verkehrstechnik GmbH and a major order in North America. Thanks to a good product mix and substantial improvements in efficiency, the gross margin increased significantly to 22.1% (previous year: 12.6%). The increased share of 23.1% of Group sales (previous year: 9.3%) shows the increasing importance of the Business Unit for the Group. Leading market research institutes expect demand in the USA to increase further at the end of the year with fleet purchases in anticipation of new emissions regulations taking effect from 2010.
Aftermarket raises gross margin The Aftermarket Business Unit continues to deliver a highly profitable performance for the group. Expansion of SAF-HOLLAND's international distribution and service network in Europe through a new agreement with Scania workshops and an extended product range as a result of the acquisition of the former Georg Fischer Verkehrstechnik GmbH were contributing factors for this increase. The Business Unit generated sales of EUR 112.9 million (previous year:134.6) in the first nine months of 2009. The third quarter showed a moderate upswing with EUR 38.0 million compared to EUR 36.7 million in the second quarter. The gross margin increased to 37.6% (previous year: 35.7%). The development confirms both the increasing and continued importance of the aftermarket business for the Group.
Strong development in cash flow Cash flow from operating activities totaled EUR 29.1 million and was thus at the level of the previous year despite a significant drop in sales. This positive development was a result of highly successful implementation of working capital reduction measures on a group-wide basis. The inventory reduction measures at SAF-HOLLAND have progressed well. Inventories decreased as of September 30, 2009 to EUR 60.2 million (December 31, 2008: EUR 85.8). The equity ratio as of the balance sheet date, September 30, 2009 was 6.6% (December 31, 2008: 13.4%). Total assets decreased to EUR 473.4 million (December 31, 2008: EUR 537.4), primarily as a result of the drop in net working capital and the extraordinary write-down in the amount of EUR 16.9 million of goodwill and intangible assets.
Outlook The Company is pleased to report the first signs of a return to growth in its end markets. The Company also expects to benefit from good growth opportunities in all three of its Business Units. Furthermore, the measures taken to improve efficiency and reduce costs are having a positive effect and will give the Company a sustainable boost. The goal of saving EUR 60 million by the end of 2009 will be exceeded by about 10%. The Group will also further reduce net working capital by the end of 2009, thus putting liquidity on a stable foundation.
10/9/9
Source: http://www.hgvuk.com/09/10/scania-and-saf-holland-cooperation/
Scania has signed a cooperation agreement with the global German trailer axle manufacturer SAF-Holland. The agreement, which is unique within the industry, will provide Scania’s customers support on the complete vehicle combination that goes beyond the supply of parts and logistics.
With the support of this agreement, the workshops and dealers within Scania’s global service network will be fully authorised to carry out professional service on SAF-Holland trailer axle components. The agreement covers such aspects as logistics, warranty handling, workshop procedures, special tools, help desk and training of workshop technicians.
“I’m confident that this agreement with SAF-Holland will enable us to give an even better service to our customers. Uptime and peace of mind are the keystones for our customers. Our strategy is to focus on our customers productivity and what adds value for them; this agreement is another step in that direction,” said Anders Gustafsson, Senior Vice President, Service Operations at Scania.
25/8/09
SAF-HOLLAND S.A. achieved an adjusted operating result nearly at break-even point in the first half of 2009 with June the first month of the year to show a profit. The Group is beginning to benefit from the cost reduction and restructuring activities which the Company has initiated due to weak business conditions. Management and employees remain focused on the day to day business of the Company, a situation unaffected by the on-going negotiations with the banks on the Company's financing arrangements. The trustee model proposed by the banks primarily affects the interests of owners and financing banks.
Dr. Reiner Beutel, CEO of SAF-HOLLAND Group GmbH: 'SAF-HOLLAND is benefitting from our decisive cost reduction initiatives. Both in June and July, a positive monthly operating result was achieved. In addition, liquidity has continuously improved. It is not only on the cost side where positive signs are visible: the truck market in the USA also seems to be stabilizing and our global Aftermarket business has been showing an upswing since March. We are confident that this positive development in North America and in the Aftermarket will continue. Our efforts will pay off even more, if demand sustainably increases. Finalizing the negotiations with the banks, whether on the basis of the currently proposed 'trustee model', would also sustainably support and financially secure the operating business.'
Cost savings stop decline in earnings Demand for trucks, trailers, components and replacement parts continues to suffer from high inventories of unsold vehicles and under-utilized fleets and equipment. As a result, Group sales fell in the first half of the year by more than 50 % to EUR 213.3 million (previous year: EUR 458.0 million). The decline primarily affected business in Europe with a drop of 67.9 % to EUR 104.9 million (previous year: EUR 326.8 million) in the first half-year. In North America, sales went down by only 16.3% to EUR 98.3 million (previous year: EUR 117.5 million). While extraordinary expenses, which were primarily due to refinancing negotiations, burdened earnings, cost savings and efficiency increases had a positive effect. Adjusted EBIT amounted to a total of EUR -1.3 million (previous year: EUR 37.5 million). The gross margin in the first half of the year was almost at the same level as in the previous year at 16.2 % (previous year: 17.7 %). Adjusted profit for the period amounted to EUR -9.9 million (previous year: EUR 21.1 million) in the first half of the year, and was influenced by financing costs, particularly higher interest rates and a higher utilization of Bank credits. Adjusted earnings per share amounted to EUR -0.48 (previous year: 1.12)
The second quarter of 2009 was characterized by conflicting developments: a weak May was followed in June by the second highest monthly sales of 2009 to date. In the three months from April to June, the Group achieved sales of EUR 101.2 million (previous year: EUR 238.7 million). Adjusted EBIT was EUR -0.8 million (previous year: EUR 19.4 million).
Trailer Systems with higher demand since June A decline in sales of up to 90%, related mainly to plant closures by our customers, was experienced by the Trailer Systems Business Unit. Since June, however, sales have increased but at a low rate. We have started our own axle production in the USA, replacing purchased axles from external manufacturers. The Group also received its first orders for axle systems with disc brakes which offer reduced braking distances over drum brakes. We expect our business to benefit from new braking regulations which take effect in 2011 and require that braking distances for new trucks be reduced by 30%. Cumulative sales declined in the first half-year to EUR 89.5 million (previous year: EUR 327.8 million), the gross margin decreased to -3.8% (previous year: 13.0%) due to the high underutilization. The Business Unit's share of total sales fell to 42.0% (previous year: 71.6%).
Powered Vehicle Systems with stable demand in the USA The Powered Vehicle Systems Business Unit significantly increased sales and earnings compared to the previous year. Additional business from the former Georg Fischer Verkehrstechnik GmbH acquired in 2008 as well as a major order in the USA allowed for an increase in sales of 32.2% to EUR 48.9 million (previous year: EUR 37.0 million) in the first half of the year. The gross margin improved to 21.1% (previous year: 14.9%). The share in Group sales rose to 22.9% (previous year: 8.1%). According to estimates from leading market research institutes, the truck market in the USA has stabilized. In view of new emission regulations beginning in 2010, an upturn of demand can be expected at the end of the year.
Aftermarket with upswing since March In the first half of 2009, the Aftermarket Business Unit again assisted in stabilizing sales of the Group. Since March, demand has revived in Europe and North America. The acquisition of the former Georg Fischer Verkehrstechnik showed positive effects due to the broader product portfolio. In addition, new orders were generated in the Middle Eastern states and the worldwide services network is continuously being extended. With -19.6%, the decline in sales to EUR 74.9 million (previous year: EUR 93.2 million) was lower than in the Trailer Systems business. New international sourcing activities contributed to an improved gross margin, which increased to 37.8% (previous year 35.4%). This business segment currently contributes 35.1% (previous year: 20.3%) to total Company sales.
Milestones reached in cost reduction programme SAF-HOLLAND made good progress in terms of cost reductions and efficiency improvements in the first half of 2009. Net working capital declined significantly by EUR 13.6 million; inventories were reduced by EUR 22.8 million to EUR 66.3 million. Cash and cash equivalents rose to EUR 14.2 million (December 31, 2008: EUR 8.6 million) as of the reporting date June 30, 2009. Cash flow from operating activities before income tax improved despite weak sales development to EUR 21.0 million (previous year: EUR 20.3 million). Repayments for current financing were made on schedule. The equity ratio was 10.5% (December 31, 2008: 13.4%). In addition, the Group reached a supplementary labor agreement with the workforce in Germany. It provides for savings in the single-digit millions and grants employment and location guarantees in return.
In parallel with operating the business, there have been intensive discussions with the lending banks on the Group's refinancing. Until the end of July, a standstill agreement was in force with the banks, who have also endorsed a preliminary expert opinion on the financial restructuring from the auditing firm KPMG and the prognosis as a going concern. In August, the banks proposed a refinancing arrangement that included the transfer of the Company's operational activities to a trustee. This would mean that SAF-HOLLAND S.A. would, to a large extent, be legally separated from the operating business and the assets of the Group. At the same time, the operating business would be sustainably supported and financially secured. After negotiating the economic considerations, an extraordinary General Meeting of the shareholders must make a decision on the proposal.
Outlook: Even if the first signs of a market revival in the worldwide replacement part business and stabilization in the truck market in the USA are visible, SAF-HOLLAND expects a clear sales decline over the year compared to 2008 with a corresponding reduction in earnings. The planned cost reductions of EUR 60 million will, however, cushion the decline in earnings. Moreover, liquidity is to be improved by inventory cuts and lower net working capital. Over the long term, SAF-HOLLAND expects an increase in demand which will also be boosted by new emissions regulations in the USA (beginning in 2010) and braking regulations (beginning in 2011).
Note: SAF-HOLLAND reports adjusted earnings figures since costs have accrued as a result of the business combination, the IPO and restructuring that are not directly attributable to the operating business. EBIT has been adjusted for the following effects: depreciation and amortization from the purchase price allocation as well as restructuring and integration costs.
22/6/09
Source: http://trailer-bodybuilders.com/truck-trailer/saf-holland-restructuring-0622/
The final restructuring report for SAF-HOLLAND S.A. was approved by its lending banks, a consortium led by UniCredit and Dresdner Kleinwort.
The restructuring report was recently prepared by the accounting firm KPMG. The anticipated additional liquidity requirements beginning in November 2010 decreased from $41 million in the preliminary report to $22 million in the final version.
Based on the approval of the report, which also confirms the Group’s ability to successfully restructure, SAF-HOLLAND will now finalize a financing arrangement with the bank consortium. The current standstill agreement has been extended until the end of July to allow time for these discussions.
28/05/09
In spite of the negative market trend, SAF-HOLLAND S.A. is realizing initial positive effects from the cost reduction program. As a result, even in light of the decline in sales, it was possible in the first quarter of 2009 to maintain the gross margin at nearly the previous year's level and to achieve an adjusted operating result (EBIT) close to the profit threshold. In the process, the Company has solidified its market position.
Dr. Reiner Beutel, CEO of SAF-HOLLAND GROUP GmbH, explained, 'The demand for trucks and trailers continued to decline in the first quarter of 2009. Therefore, we are continuing our course of reducing capacity and costs as well as preserving liquidity. These measures will pay a double dividend when the market recovers. The commercial vehicles industry stands to be one of the first to benefit when the economy improves.'
Sales Decline Puts Pressure on Earnings In the first quarter, sales declined by almost half to EUR 112.1 million (previous year: EUR 219.3 million) as a result of globally weak demand. On an exchange rate-adjusted basis, sales decreased by 52%. The European business' contribution to total sales fell to 50.9% (previous year: 71.4%), driven by a particularly strong market downturn, due mainly to high inventories and under-utilized equipment at fleets, particularly for trailers. In North America, where SAF-HOLLAND generated 45.1% (previous year: 25.9%) of its sales, demand had already dropped significantly in 2007 and 2008. The remaining regions contributed 4.0% (previous year: 2.7%) of sales.
Cost savings for materials as well as personnel and non-personnel expenses cushioned the impact of the sales decline on earnings. The gross margin of 16.9% almost reached the previous year's value of 17.5%. Adjusted earnings before interest and taxes (EBIT) were EUR -0.5 million (previous year: 18.1 million), and the adjusted profit for the period totaled EUR -5.3 million (previous year: EUR 9.4 million). Adjusted earnings per share amounted to EUR -0.26 (previous year: EUR 0.50).
Powered Vehicle Systems Significantly Improves Results The Powered Vehicle Systems Business Unit benefited from the business of SAF-HOLLAND Verkehrstechnik GmbH, which was acquired in the fall of 2008, and a government contract in the USA. Sales increased by 50.8% to EUR 26.7 million (previous year: EUR 17.7 million); exchange rate-adjusted it increased by 35.6%. The adjusted gross margin rose to 20.6% (previous year: 13.1%). With these good results, the Business Unit is increasingly proving itself to be an important sales and earnings contributor for the Group. It now accounts for 23.8% (previous year: 8.1%) of total sales.
Trailer Systems Particularly Affected by the Decline in Sales The Group's previous growth engine is suffering from weak demand triggered by high inventories of new trailers and under-utilized equipment at fleets worldwide but especially in Europe. Only the sale of specialty trailers has remained stable. Sales for the Trailer Systems Business Unit totaled EUR 47.2 million (previous year: EUR 158.7 million) declining on an exchange rate-adjusted basis by 71.4%. The gross margin was -2.1% (previous year: 13.1%), reflecting lingering excess capacity despite the cost reductions implemented to date.
Aftermarket a Stabilizing Factor with Improved Margin The Aftermarket Business Unit is likewise affected by the market weakness, but to a lesser extent than the OEM business in the truck and trailer sector. In March, SAF-HOLLAND recorded slightly higher order entry. Business Unit sales declined to EUR 38.2 million (previous year: EUR 42.9 million), exchange rate-adjusted by 16.6%. The Business Unit improved its gross margin to 38.0% (previous year: 35.7%) due to cost reductions and a changed product mix.
Restructuring Plan During the period under review, SAF-HOLLAND benefited from the measures initiated in fall 2008 aimed at reducing costs and improving efficiency. The capacity adjustment encompasses not only staff reductions, but also reduced working hours. In addition, executives and the members of the Management Board are foregoing a portion of their salaries, the bonus for 2008 as well as vacation days. Furthermore, inventories were reduced further in the first quarter, which has had a positive effect on liquidity. Measures to stabilize the Group are continuing; a further EUR 43 million is to be saved during the current year, following the EUR 16 million in cost reductions already achieved in 2008. The goal is to continue to lower the profit threshold substantially. A preliminary expert opinion from the auditing firm KPMG from April 20, 2009, and Mai 25, 2009, confirmed the Group's ability to restructure. Based on the expert opinion, external financing should be secured during the current quarter.
Outlook for 2009: Initial Positive Signs Perceptible In view of the weak demand, which is also characterized by volatility and orders placed at short notice, business development still cannot be forecast with any certainty. Total sales are expected to be well below the previous year's level, accompanied by corresponding pressure on earnings. However, SAF-HOLLAND anticipates a slight recovery of orders in the US truck sector late in the year, the result of pull-forward effects arising from the introduction of new emissions regulations at the beginning of 2010. Initial positive signs of stabilization are perceptible in the US truck business as well as across the Group in the Aftermarket Business Unit. In the past, the replacement parts business has been an early indicator of the subsequent development of the truck and trailer market. Note: SAF-HOLLAND reports adjusted earnings figures since costs have accrued as a result of the business combination, the IPO and restructuring that are not directly attributable to the operating business. EBIT has been adjusted for the following effects: depreciation and amortization from the purchase price allocation as well as restructuring and integration costs.
30/4/09
Source: http://trailer-bodybuilders.com/aftermarket/safholland-holds-line-0430/
In a challenging market, SAF-HOLLAND S.A. maintained group sales in 2008 at nearly the same level as in the previous year at $1.05 billion (previous year: $1.07 billion). Business performance was characterized by conflicting developments. Following a successful first half of the year with double-digit growth rates, the economic crisis restrained sales in the final months of 2008. SAF-HOLLAND responded promptly by taking steps to adjust to the new environment as early as October 2008.
“The past fiscal year was marked by above-average growth at the beginning and a drastic drop in sales in the final four months of the year,” said Dr. Reiner Beutel, CEO of SAF-HOLLAND GROUP GmbH. “Our comprehensive projects to reduce costs and working capital and to stabilize liquidity are helping us overcome the current market weakness and are simultaneously fortifying us for the time following the crisis. As soon as demand revives, we will benefit from our high quality and innovative products and international positioning as one of the leading global suppliers to the truck and trailer industry.”
Adjusted operating earnings before interest and taxes (EBIT) amounted to $54.2 million (previous year: $ 79 million) and the adjusted EBIT margin was 5.2% (previous year: 7.4%). The decline from the previous year resulted primarily from the sharp decrease in demand at the end of the fiscal year. Drops in production of up to 70% in the fourth quarter led to overcapacity, which exerted pressure on earnings. In addition, extraordinary write-downs on goodwill and intangible assets as well as restructuring expenses impaired profitability.
The Powered Vehicle Systems Business Unit, which generates sales primarily from fifth wheels and axle suspensions, benefited in 2008 from the acquisition of the former Georg Fischer Verkehrstechnik GmbH. As a result, the Business Unit was able to boost its sales during the period under review to $134 million (previous year: $107 million).
SAF-HOLLAND’s Trailer Systems Business Unit with a predominantly European focus was most strongly affected by the collapse in demand in the fall. During the period under review, the Business Unit generated sales of $697 million (previous year: $728 million).
Similarly, the replacement parts business of the Aftermarket Business Unit suffered from the overall market weakness in the fourth quarter. Unused trucks and trailers as well as large inventories of new vehicles weighed on demand. For the entire year, the Business Unit recorded sales of $222 million (previous year: $237 million).
20/3/09
SAF-HOLLAND S.A. is expanding its sales potential. Daimler subsidiary Daimler Truck North America (formerly Freightliner Corporation), one of the largest truck manufacturers in North America, now offers customers the option of an innovative, ultra-lightweight HOLLAND FWAL Lightweight fifth wheel. The FWAL fifth wheel plate is forged out of aluminum alloy, making it much lighter in weight than conventional cast iron or steel products. It also features the proven 'No Lube' technology, which includes a special surface coating on the locking mechanism and a number of other technical details so the fifth wheel does not require lubrication. This SAF-HOLLAND development is suitable for fleets who seek a combination of low maintenance requirements for tractor units, along with environmental sustainability and significant weight reduction (up to 40kg).
Trailer axle system production is now underway in the United States, and the first customers took delivery of the new axles last month. Production will be increased to meet demand in the weeks ahead. The production facility in Missouri works flexibly to manufacture different kinds of axle systems to suit individual customer requirements. In launching its own axle production, the Group is opening up significant additional sales potentials since buying axles from third-party manufacturers is no longer required. At the same time, SAF-HOLLAND has rounded out its product portfolio in North America.
Dr. Reiner Beutel, CEO of SAF-HOLLAND GROUP GmbH, said, 'We are pleased that Daimler Truck North America recognizes that SAF-HOLLAND's new FWAL fifth wheel offers their fleet customers additional advantages of weight optimization and reduced cost. This confirms our product strategy of offering technically sophisticated solutions in our core and growth markets around the world. The start-up of trailer axle production in North America is one example of leveraging technologies across the entire organization, supporting our ability to meet the requirements of customers around the world.'
25/3/09
Source: http://www.oxfordreview.com/ArticleDisplay.aspx?e=1492335
The unionized workers at the city's SAF-Holland manufacturing plant voted Sunday to overwhelmingly accept an "unconventional" new three-year contract intended to provide temporary "relief assistance" for the company.
Despite some concessions intended to help with the company's day-to-day operating activities, the plant's workers, which are represented by the Canadian Auto Workers Local 636, accepted this new collective agreement with 94 per cent support.
"Traditionally, we seek to increase wages, benefit levels and pension levels at contract time," plant chair John Griffioen said. "However, because of the worldwide recession, SAF head office ... has taken precautionary measures in Europe and North America to protect the company financially through the bad times.
"A temporary measure was requested at the Woodstock facility to allow relief assistance with cash flow here."
The most unusual provision of this new collective agreement is a new weekly employee payment intended to mitigate the company's benefit costs. From March 30, 2009, to December 2010, the plant's 115 hourly workers will provide $20 per week toward the cost of providing benefits. Starting in January 2011, this weekly premium will be reduced to $10 per week until the provision expires in November 2011.
Griffioen described this provision as unusual within the "structure of the CAW," which, in some recent contracts, has made concessions in terms of health-care, dental and other benefits.
"The trend is to skin out benefits to find money," Griffioen said. "We'd be doing our membership a disservice by doing that so we had to take a different route."
The other principal concessions in the new agreement were the elimination of a paid lunch for the plant's day shift and a three-year wage freeze. The Holland workers also agreed to freeze any cost-of-living increases until April 2011.
"The measure(s) taken by this membership shows me that they are more concerns with retaining their good jobs than a penny in the pocket," Griffioen said.
The new contract, however, does contain some monetary gains for vision care, work boots and life insurance in its third year.
The plant's bargaining committee, which also includes Ed Solarewicz and Jim Roe, began negotiating the new agreement in December 2008 after the expiration of the previous contract. After 12 meetings with management, and numerous meetings with the workers, the committee was finally able to present the contract for a ratification vote on Sunday.
While there are currently about 30 Woodstock workers on layoff, Griffioen said the plant, which manufactures equipment for the trucking and transportation industries, was generally in good shape. In recent years, the Woodstock plant installed several new CNC machines, as well as new paint-line robots, enhanced hoist systems and other major improvements.
"This has not been your typical factory in trouble story," Griffioen said. "While there has been some restructuring throughout Germany and North America, the corporation remains in good shape with great potential."
SAF-Holland, the result of a 2006 merger between Holland Hitch of Canada Ltd. And Germany's Otto Sauer Achsenfabrik GmbH (SAF), is one of the world's leading manufacturers of coupling and suspensions systems, with over $1.3 billion in annual sales and a worldwide workforce of 6,000.
20/3/09
Source: http://www.safholland.com
Bessenbach, Germany, March 20, 2009 – SAF-HOLLAND S.A. is expanding its sales potential. Daimler subsidiary Daimler Truck North America (formerly Freightliner Corporation), one of the largest truck manufacturers in North America, now offers customers the option of an innovative, ultra-lightweight HOLLAND FWAL Lightweight fifth wheel. The FWAL fifth wheel plate is forged out of aluminum alloy, making it much lighter in weight than conventional cast iron or steel products. It also features the proven “No Lube” technology, which includes a special surface coating on the locking mechanism and a number of other technical details so the fifth wheel does not require lubrication. This SAF-HOLLAND development is suitable for fleets who seek a combination of low maintenance requirements for tractor units, along with environmental sustainability and significant weight reduction (up to 40kg).
Trailer axle system production is now underway in the United States, and the first customers took delivery of the new axles last month. Production will be increased to meet demand in the weeks ahead. The production facility in Missouri works flexibly to manufacture different kinds of axle systems to suit individual customer requirements. In launching its own axle production, the Group is opening up significant additional sales potentials since buying axles from third-party manufacturers is no longer required. At the same time, SAF-HOLLAND has rounded out its product portfolio in North America.
Dr. Reiner Beutel, CEO of SAF-HOLLAND GROUP GmbH, said, "We are pleased that Daimler Truck North America recognizes that SAF-HOLLAND’s new FWAL fifth wheel offers their fleet customers additional advantages of weight optimization and reduced cost. This confirms our product strategy of offering technically sophisticated solutions in our core and growth markets around the world. The start-up of trailer axle production in North America is one example of leveraging technologies across the entire organization, supporting our ability to meet the requirements of customers around the world."
17/3/09
Source: http://trailer-bodybuilders.com/truck-trailer/saf-holland-fifth-wheel-manufacturing-0317/
SAF-HOLLAND has announced that it will be moving fifth wheel manufacturing operations from its Monroe, North Carolina, plant to its Wylie, Texas, facility. The Wylie facility machines and assembles fifth wheels for the company and provides enough unutilized capacity to absorb all of the Monroe plant’s current volume.
The consolidation of manufacturing operations is slated for June 1. The Monroe plant will remain operational until the consolidation process is complete.
While 13 hourly and salaried employees at the Monroe facility will be directly impacted by the move, it is expected that a comparable number of hourly and supervisory positions will be added at the Wylie plant to handle the increase in production. At this time, it has not been determined how many of the Monroe positions will be transferred to the Wylie facility, or to other SAF-HOLLAND operations.
“By consolidating manufacturing operations we will have the opportunity to improve the utilization of our Wylie facility, while creating significant savings for the company,” said Sam Martin, Chief Operating Officer for SAF-HOLLAND. “It also allows us an opportunity to integrate Lean Manufacturing practices and ensure that we continue to improve on the high level of quality and delivery standards customers have come to expect from SAF-HOLLAND.”
The plant consolidation addresses the company’s global effort to implement lean manufacturing practices in all of its manufacturing operations, along with improved global logistic processes and aggressive inventory control.
