Swedish Company Haldex recently sold its plant in Paris, Tenn., to Setco Automotive Ltd. of Mumbai, India. The sale concludes the previously announced shutdown of the plant in Paris, Tenn., one of Commercial Vehicle Systems’ North American plants. The plant had 120 employees, and mainly made compressors and assembled certain other products within the Air Management business unit.

The bulk of the production has been transferred to other Haldex facilities in North America, and to China. The sale to Setco includes buildings, machinery and certain non-strategic product lines. The product lines sold account for roughly MSEK 60 in annual sales.

“This measure is part of our ongoing efforts to improve our cost structure,” says Haldex President and Group CEO Joakim Olsson.

Haldex, headquartered in Stockholm, Sweden, produces products in vehicles that enhance safety, environment and vehicle dynamics.

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