EUROPE REPORT
Brussels, Belgium – After weeks of uncertainty and, finally, a bankruptcy, bus and trailer manufacturer Van Hool can look to the future again. The company trustee has accepted the bid from the competitor VDL – Schmitz-Cargobull. This move was seen by the trustee as the quickest and most efficient way to restart the operations without losing additional company value, and important resources.
Just before the deal was signed, Guido Dumarey and ABC Companies, the Van Hool distributor for the USA, also launched their bid, but the trustee believed that it would have required too much time to restart the bid process, causing valuable human resources to leave Van Hool. However, not all jobs will be maintained, and most probably 1,500 employees will be cut from the company.
Source: Sustainable Bus Read The Article
PSR Analysis: With this move, VDL group will be able to increase their market share in Europe and establish a strong position in the US, where Van Hool was highly recognised. VDL announced it will maintain and expand Van Hool operations in Belgium. With this acquisition, VDL group will be looking to produce close to 2,000 buses per year in the coming years, according to our database CV Link™. A wider technological mix, including Fuell Cell busses, and the access to the US market will accelerate VDL growth. PSR
By Emiliano Marzoli, Manager European Operations
