South Africa’s GRW Takes Over Van Hool Industrial Vehicles Business Unit for $1 Billion
On Wednesday evening, the board of curators announced that GRW, a South African manufacturer of tankers and semi-trailers, has permanently taken over the Van Hool Industrial Vehicles business unit. The agreement was finalized on April 10, and a definitive acquisition agreement has been ratified by both parties. The financial details of the agreement are not disclosed.
The joint trade union front played a significant role in helping with administrative obligations for the 2,500 former employees during the entire process. GRW plans to be fully operational in Koningshooikt by the beginning of June, with up to 350 employees. The production of tank trucks, semi-trailers, and tank containers is set to begin. Discussions with VDL Groep regarding the takeover of the bus and coach activities are ongoing and expected to conclude soon.
GRW plans to restart production on April 29 in three phases, with the goal of being fully operational by early June. The company produces 1,200 tankers annually with 630 employees, while Schmitz Cargobull produces approximately 60,000 vehicles annually with over 6,000 employees. Sales for Schmitz Cargobull were approximately 2.6 billion euros in the 2022/23 financial year.
