Horizon Global Initiates Process to Explore Sale of Its Asia-Pacific Segment
Horizon Global Corporation Common Shares (HZN)
Last horizon global corporation common shares earnings: 3/16 06:30 am
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US:NYSE Investor Relations:
investors.horizonglobal.com
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Source: Business Wire
Company Considering Various Alternatives to Reduce Debt TROY, Mich.--(BUSINESS WIRE)-- Horizon Global Corporation (NYSE: HZN), the world’s leading manufacturer of branded towing and trailering equipment, announced today that the Company has initiated a formal process to explore the sale of its Asia-Pacific (“APAC”) business segment, with Jefferies engaged to run the process. The expected proceeds from the sale of APAC would result in a significant reduction of the Company’s debt, while allowing the management team to focus on the core Americas segment and the business improvement initiatives underway in the Europe-Africa segment. Carl Bizon, President and Chief Executive Officer of Horizon Global, commented, “Our APAC segment is an exceptional business with a great team of employees that operates as a nearly stand-alone business. While we think the business has attractive growth prospects, we are
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