* Scandinavian-German financial investor Triton to become new equity owner of Stabilus
* Financial restructuring leads to significant debt reduction and secures long-term funding for the company
* New investment capital positions Stabilus for faster expansion of its product portfolio and to improve its competitiveness
Gastonia, NC – April 15 , 2010 — The financial investor, Triton, will become the new owner of Stabilus. Following the change in ownership, Stabilus can now realize the targeted improvement of its competitiveness in the current difficult market environment. Funding is provided to allow an accelerating expansion of the product portfolio for innovative applications and add products in other industrial areas, in addition to the focus on the automobile industry. Management and employees of Stabilus are pleased with this forward looking solution since it incorporates strengthening the company’s competitive positioning, provides capital for further growth and underlying job security.
Anthony Haba, President, Stabilus Inc, commented: “The restructuring of our finances under our new ownership with Triton will allow Stabilus to accelerate our growth plans for North America.”
Stabilus is the world market leader for gas springs and hydraulic vibration dampers with headquarters in Koblenz, Germany. The company has operations in the United States, Mexico, Brazil, China, Australia, and New Zealand. Because the majority of the company’s revenues are generated by products for the automotive industry and other industrial segments, Stabilus was heavily affected by the negative market development in the automotive sector.
Stabilus develops, produces, and distributes gas springs, hydraulic dampers, variable door-stays and automatic opening and locking systems for doors, trunk lids, and tailgates. The company with headquarters in Koblenz, Germany, is a global player with approximately 2,800 employees. Stabilus’ customers include leading automotive manufacturers and other industrial companies as well as manufacturers of agricultural machinery, household appliances, and office furniture. For further information see www.stabilus.com.