Notification of the sale of Hansen Transmissions South Africa Propriety Limited


Date: 30 Sept 2015 - Dear Valued Customers and Business Partners

We would like to advise you that Bearing Man Group (Pty) Ltd (BMG) has received unconditional approval from The South African Competition Commission for the purchase of 100% of Hansen Transmissions South Africa Proprietary Limited. The official signing of the Sales and Purchase Agreement together with the Supply and Distribution agreement took place on the 23rd of September 2015.

Bearing Man Group (Pty) Ltd will officially take ownership of Hansen Transmissions South Africa Proprietary Limited on the 1st of October 2015. This includes the supply of all Hansen and Sumitomo industrial gearboxes throughout Africa. It is evergreen which ensures the continued technical and design support from Hansen Industrial Transmissions Belgium.

Hansen Transmissions South Africa Proprietary Limited will continue to offer local assembly and repairs and will operate from its existing premises in Jet Park, Gauteng, for the foreseeable future.

This strategically important and mutually beneficial transaction brings together Hansen Industrial Transmissionsí technical and manufacturing expertise and BMG's extensive distribution network. The businesses respective market focuses are complimentary, as opposed to overlapping.

Contact:
Lena De Wachter, Communications Officer
info@hansenindustrialgearboxes.com