Sonesson ditches SAB
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THE SONESSON GROUP has sold all shares in SAB Automotive to Heselman, part of the Swedish public investment group, Incentive.
SAB Automotive, Aycliffe, Co Durham, is a subsidiary of SABLandskrona.
The reason given for the sale is that the SAB Automotive Group does not fit into the new structure of the Volvo-controlled Sonesson Group, partly because existing and potential customers are competitors of Volvo.
The SAB Automotive Group manufacturers and markets components for the automotive industry and in 1982 had a turnover of SKr 130m (about £11m).
Exports account for about 85 per cent of the total sales with the major customers being MAN, Daimler-Benz, Daf, Leyland, Renault, Scania and Volvo.
No significant changes to the operations of SAB Automotive and Hesselman are expected.