The Holland Group, Inc. and Bessenbach, Germany-based Otto Sauer Achsenfabrik GmbH—known commonly as SAF-- today announced they have signing a definitive agreement to merge the two companies.
SAF is a supplier of integrated axle and suspension systems for trailers. Holland, MI-based Holland Group is a supplier of coupling, lift and suspension systems for trucks, tractors and trailers. Terms of the arrangement were not disclosed but the merger is expected to occur by year end.
After the merger, the two companies will be subsidiaries of SAF-Holland Group GmbH, to be headquartered in Bessenbach,with combined annual turnover of approximately $975 million. The company will employ 3,000 people globally and its combined product portfolio will be marketed under the Holland and SAF brand names.
According to the announcement, the merger will create “a truly global supplier of transportation equipment with the critical mass required to compete in the market with 26 manufacturing and warehousing facilities worldwide.”