Hayes Lemmerz Announces Sale of its Aftermarket Brake Controller Business
18 October 2005 - 9:35AM
PR Newswire (US)
NORTHVILLE, Mich., Oct. 17 /PRNewswire-FirstCall/ -- Hayes Lemmerz
International, Inc. (NASDAQ:HAYZ) today announced the sale of its
aftermarket brake controller business to Hayes Brake Controller
Company, a limited liability corporation formed by Syncro
Corporation of Arab, Alabama. Under the agreement announced today,
Hayes Brake Controller Company will acquire all inventory, assets
and intellectual property necessary to the operation of the
aftermarket brake controller business. Financial terms of the
transaction were not disclosed. "This deal is consistent with the
strategic objectives of both companies," said Ed Kopkowski,
President of the North American Wheels, Commercial Highway and
Aftermarket Business Unit at Hayes Lemmerz. "The sale will allow
Hayes Lemmerz to focus on growing its core wheel business. At the
same time, Syncro has been a long-term partner in the design,
development and manufacturing of all of our brake controller
products. As a core business of Syncro they will allocate the
resources necessary to improve and grow this business. We intend to
work with Syncro to ensure a rapid and successful transition."
Hayes Lemmerz International, Inc. is one of the world's leading
global suppliers of automotive and commercial highway wheels,
brakes, powertrain, suspension, structural and other lightweight
components. The Company has 39 facilities and approximately 11,000
employees worldwide. Syncro Corporation, formed in 1937, is a
privately held company specializing in the design and manufacture
of electronic and electro- mechanical products for the automotive,
small engine and industrial markets. Syncro Corporation can be
found on the web at http://www.syncrocorp.com/ . More information
about Hayes Lemmerz International, Inc., along with a complete list
of current and archived press releases, is available at
http://www.hayes-lemmerz.com/ . DATASOURCE: Hayes Lemmerz
International, Inc. CONTACT: Marika P. Diamond of Hayes Lemmerz
International, Inc., +1-734-737-5162 Web site:
http://www.hayes-lemmerz.com/ http://www.syncrocorp.com/
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