Haldex is increasing the cost reservation for the product recall campaign

By end of 2014, Haldex launched a field inspection followed by a recall campaign
of one of its actuator models in the North American market. The campaign is
estimated to span a total of 159,000 actuators.

The cost was estimated to SEK 65 m at the beginning of the year, which impacted
net income

in the fourth quarter 2014 as a one-off item. According to new calculations,
based on actual numbers and a new forecast, total cost is estimated to SEK 170 m
(USD 20m), of which SEK 105 m will impact the third quarter 2015 as a one-off
item.

The main reasons for the increased cost are:

  ·
Higher yield percent. Industry figures show, on average, about 55-70 percent
outcome of an exchange program. Haldex estimates that 85 percent will replace
their products as part of the current program.

  ·
Investment in the customer relationships. In discussions with customers Haldex
has chosen a more generous level of compensation for work performed in the
customer’s workshops.

  ·
Unforeseen handling costs for administration, shipping, increased storage and
similar costs..

Bo Annvik, President and CEO: "We have concluded that customer confidence is
most important for us in the long term and to show that we take full
responsibility. The actual failure rate of 0,2 percent is still very low and
it’s very unfortunate that our early estimates of the cost of the program has to
be adjusted. I have visited all the major customers in North America and we have
concluded that it is better for Haldex to have more of a collaborative approach
in the compensation discussions. Moreover, we have a higher yield percentage
than the average for similar programs which implies that the information has
reached affected vehicle owners in an efficient way."

Short background description
A diaphragm in the actuator could get out of position during the manufacturing
process, resulting in the actuator triggering the parking brake. The same error,
under certain special conditions, can occur on trailers, if the vehicle’s
pneumatic system is not functioning properly. The specific behavior in the
pneumatic system affects Haldex actuators that do not handle this system
discrepancy in a completely reliable manner. National Highway Traffic Safety
Administration (NHTSA) has decided that Haldex should offer all customers an
alternative product as replacement.
For further information visit www.haldex.com or contact:

Bo Annvik, President & CEO, 46 418 476000
Catharina Paulcén, SVP Corporate Communications, catharina.paulcen@haldex.com or
46 418-476157

Haldex AB (publ) is required to publish the above information under the Swedish
Financial Instruments Trading Act. The information was submitted for publication
on Sept 15, 2015 at 16.50 am CEST.
About Haldex

With more than 100 years of intensely focused innovation, Haldex holds unrivaled
expertise in brake systems and air suspension systems for heavy trucks, trailers
and buses. We live and breathe our business delivering robust, technically
superior solutions born from deep insight into our customers’ reality. By
concentrating on our core competencies and following our strengths and passions,
we combine both the operating speed and flexibility required by the market.
Collaborative innovation is not only the essence of our products – it is also
our philosophy. Our 2,200 employees, spread on four continents, are constantly
challenging the conventional and strive to ensure that the products we deliver
create unique value for our customers and all end-users. We are listed on the
Nasdaq Stockholm Stock Exchange and have net sales of approximately 4 billion
SEK.