MaxiTRANS Announces Agreement to Sell its Trailer Solutions Business
23 July, 2021
MaxiTRANS Industries Limited (MXI), one of Australia's largest Semi-Trailer manufacturers and supplier of truck and trailer parts, today announced that it has entered into an Asset Sale Agreement to sell the Trailer Solutions Business (Trailers) to Australian Trailer Solutions Group Pty Limited (ATSG), an Australian based privately owned company, subject to shareholder approval.
“What we are announcing today creates two simplified and more focused businesses,” said MaxiTRANS Managing Director and CEO, Dean Jenkins.
“In recent years, the financial performance of Trailers has been volatile. Having explored a range of alternatives, we have concluded that these steps provide the best outcome for our shareholders, customers and people, while also creating a brighter future for the Trailers business under ATSG’s ownership.”
“A standalone MaxiPARTS will have a stronger financial platform from which to develop its market leading position and greater financial flexibility to play a prominent role in industry consolidation. It will also be a less complex business, which will enable a significant reduction in corporate overhead costs.”
“For over 75 years, we have been building MaxiTRANS into one of the transport industry’s leading companies. MaxiTRANS and MaxiPARTS will continue to build on this heritage, with our ongoing commitment to our customers, employees, suppliers, and the transport industry to deliver safer, more efficient, and reliable transport solutions."
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