JOST closes acquisition of leading manufacturer of agricultural front loaders Ålö Holding AB

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JOST closes acquisition of leading manufacturer of agricultural front loaders Ålö Holding AB

- Antitrust authorities approve transaction without restrictions

- Ålö Holding AB will be consolidated as of February 1, 2020

- JOST completes closing of the transaction

JOST Werke AG ("JOST"), a leading global producer and supplier of safety-critical systems for commercial vehicles, announced today the successful closing of the acquisition of Ålö Holding AB ("Ålö").

The responsible antitrust authorities approved the acquisition without restrictions. The closing of the transaction was completed on January 31, 2020. JOST used EUR 50 million cash in addition to debt to finance the transaction. Ålö is expected to be included in the scope of consolidation of JOST as of February 1, 2020.

Ålö is headquartered in Umeå, Sweden. It has production sites in Sweden, China, the U.S. and France as well as sales offices in all significant markets. The company develops, produces and markets its agricultural applications under the internationally renowned brand Quicke. The acquisition will transform JOST's existing agricultural business into another cornerstone of the group.

The new outlook for fiscal year 2020, including the expected sales and earnings contribution of Ålö, will be published together with the Group Annual Report 2019 on March 25, 2020.

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