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Malmö, May 18, 2006
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Thule
, the world leader in Sports Utility Transportation, announces the intent to acquire
Brink International BV
, Valley Industries and SportRack Accessories, all subsidiaries of US based
Advanced Accessory Systems (AAS). Brink and Valley are leading European and North
American players for towbars while Canadian SportRack Accessories offers load carriers
and rooftop boxes. The companies have annual sales of 230 M and they employ 1,400
co-workers at seven European and three North American sites. The acquisition is
conditional upon various factors including clearance from European anti-trust
authorities.
“Towing systems are a new product segment in our business model
which offers transportation solutions for active consumers wanting to transport
their gear by vehicles safely, easily and in style”, comments Anders Pettersson,
President and CEO of Thule.
For further information please contact:
Anders Pettersson, President and CEO, phone: +46 (0) 703 414150
Daniel Oelker, SVP Corporate Communication, phone: +46 (0)730 799004
About Brink, Valley and SportRack
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Brink International, Valley Industries and SportRack
Accessories are currently divisions of US based Advanced Accessory Systems LLC.
AAS is a leading global supplier of roof rack systems, towing systems and related
lifestyle accessories to the automotive industry. AAS consists of four operating
business units. Three of those will be divested to
Thule Including Brink International BV(towbars), Valley Industries (US towing products for the aftermarket) and SportRack Accessories (load carriers).
The fourth, SportRack Inc. (roof racks/rails for OEM delivery to the Automotive
industry), will be retained by current owner Castle Harlan, the US based private equity firm who has owned AAS since 2003. More information is available
at www.advancedaccessorysystems.com
and www.castleharlan.com
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