Stockholm (NordSIP) – Following up on its earlier promise to support Swedish companies through the COVID19 pandemic, pension fund AMF has announced it is investing SEK114.5 million in Haldex, and engineering company.
The investment is part of a SEK5 billion commitment to invest in viable Swedish companies made in the middle of April. “As a major owner, we have both a responsibility and an interest in ensuring that good and long-term viable companies remain and are competitive even when the pandemic is over,” Tomas Flodén, asset management manager at AMF at that time. “For our pension savers, it is important that we ensure that the values that exist in these companies remain and grow even in one, two and twenty years.”
Haldex is a Swedish engineering company headquartered in Landskrona which produces brake and air suspension systems for heavy vehicles. The company has around 2,200 employees, spread over four continents. It is listed on Nasdaq Stockholm and has a turnover of approximately SEK5 billion, according to AMF. The investment announced today corresponds to approximately 6.6% of the shares in the company and is made in connection with a private placement of a total of around SEK157 million.
“Given the challenging time that many companies are going through, we are delighted to be able to enter as a large owner in a good Swedish company such as Haldex. We are new owners of the company, but already have a strong commitment in the heavy automotive sector, where Haldex plays an important role as a subcontractor. We look forward to being a long-term, constructive and active owner of the company,” says Anders Oscarsson (Pictured), equity manager at AMF.
“Thanks to our strong financial position, and the long-term characterization of traditional pension management, AMF has the opportunity to make investments in companies in need of capital to be able to get through the challenging economic situation. Entering viable long-term companies in this situation is a good opportunity for both our savers and the companies we invest in,” Flodén added on this occasion.
Image courtesy of AMF