SDC International has announced a program for significant changes related to its Tatra heavy-duty truck operations in the Czech Republic.
Tatra, with revenues of almost $150 million per year, was purchased by SDC in December 2001. Among the changes are an equity purchase of Tatra shares by Tatra's largest customer and joint venture partner in India, the engagement of Fil Filipov, restructuring expert of Terex Corp. to assist in the second phase of Tatra's restructuring and the appointment of a new operating board of directors at Tatra.
Vectra Ltd., a closely held affiliate of Tatra's manufacturing joint venture in India, Tatra Udyog, has purchased 21.1% of the outstanding shares of Tatra. Vectra, along with the joint venture, is the largest purchaser of Tatra trucks worldwide.
More than 1,000 Tatra trucks were assembled this year for the Indian market. According to Jojo Alexander of Vectra: "We are very excited to finally succeed in gaining a significant equity interest in Tatra. We have worked with Tatra for many years, and we recognize the great future Tatra has in its grip." After the Vectra transaction, SDC continues to own 51% of Tatra, and Terex owns 19.5%.
The new management consulting arrangement between SDC, Tatra and Terex provides that Terex personnel will assist in the restructuring of day-to-day operations of Tatra. The objective to improve Tatra's operations will include reorganizing and consolidating manufacturing facilities, outsourcing some of Tatra parts and components and reducing overhead.
Terex, with more than $3 billion in revenue expected this year, is also a partner with Tatra in a military tactical vehicle joint venture, which provides for Tatra's unique swing half-axle chassis systems to be used as the base for the manufacture of military trucks at one of Terex's United States facilities. Terex is a shareholder in both SDC and Tatra.
Tatra, with revenues of almost $150 million per year, was purchased by SDC in December 2001. Among the changes are an equity purchase of Tatra shares by Tatra's largest customer and joint venture partner in India, the engagement of Fil Filipov, restructuring expert of Terex Corp. to assist in the second phase of Tatra's restructuring and the appointment of a new operating board of directors at Tatra.
Vectra Ltd., a closely held affiliate of Tatra's manufacturing joint venture in India, Tatra Udyog, has purchased 21.1% of the outstanding shares of Tatra. Vectra, along with the joint venture, is the largest purchaser of Tatra trucks worldwide.
More than 1,000 Tatra trucks were assembled this year for the Indian market. According to Jojo Alexander of Vectra: "We are very excited to finally succeed in gaining a significant equity interest in Tatra. We have worked with Tatra for many years, and we recognize the great future Tatra has in its grip." After the Vectra transaction, SDC continues to own 51% of Tatra, and Terex owns 19.5%.
The new management consulting arrangement between SDC, Tatra and Terex provides that Terex personnel will assist in the restructuring of day-to-day operations of Tatra. The objective to improve Tatra's operations will include reorganizing and consolidating manufacturing facilities, outsourcing some of Tatra parts and components and reducing overhead.
Terex, with more than $3 billion in revenue expected this year, is also a partner with Tatra in a military tactical vehicle joint venture, which provides for Tatra's unique swing half-axle chassis systems to be used as the base for the manufacture of military trucks at one of Terex's United States facilities. Terex is a shareholder in both SDC and Tatra.
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