Released on August 28, 2008

Automotive supplier Georg Fischer AG & C, Singen, Germany, plans to sell all the shares in its wheel coupling business, Georg Fischer Verkehrstechnik GmbH, to SAF-HOLLAND S.A., Luxemburg.

According to a press release issued by the company, the divestment is part of the efforts of Georg Fischer Automotive to focus on its “core business of automotive casting.”

Georg Fischer Verkehrstechnik manufactures and sells wheel couplings and wheels for the commercial vehicle sector. In 2007 it generated sales of more than $90 million. The purchaser is a transportation industry supplier with annual sales of $1.2 billion and approximately 3,000 employees worldwide.

The business in Singen is expected to be continued unchanged under the new owner with the current management and its 80 employees. Individuals knowledgeable of the transaction believe the sale will be beneficial to both parties, continuing Georg Fischer Verkehrstechnik’s activities while expanding its market presence and offering SAF-HOLLAND matching products and additional market share in Europe and the U.S.