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Horizon Global

Horizon Global is the #1 designer, manufacturer and distributor of a wide variety of high quality, custom-engineered towing, trailering, cargo management and other related accessory products in North America, Australia and Europe. The Company serves OEMs, retailers, dealer networks and the end consumer as the category leader in the automotive, leisure and agricultural market segments. Horizon provides its customers with outstanding products and services that reflect the Company's commitment to market leadership, innovation and operational excellence. The Company’s mission is to utilize forward-thinking technology to develop and deliver best-in-class products for our customers, engage with our employees and realize value creation for our shareholders.

Horizon Global is home to some of the world’s most recognized brands in the towing and trailering industry, including: Reese, Draw-Tite, Westfalia, Hayman-Reese, Bulldog, Tekonsha, Fulton and Rola. Horizon Global has approximately 4,700 employees, 67 facilities, and 21 countries

Spotlight News

Horizon Global Announces Termination of Brink Acquisition Agreement
Horizon Global announced that the Company and H2 Equity Partners have mutually agreed to terminate the Brink Group acquisition agreement, effective June 14, 2018. As part of the termination agreement, Horizon Global agreed to pay a break fee to the Brink Group in the amount of €4.75 million.
The acquisition will be withdrawn from regulatory review in Germany and the U.K.
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Latest News

06/20/2018
Horizon Global Provides Update on Business Performance and Status of Action Plan
Dateline City:
TROY, Michigan

Business Update

  • Company withdraws guidance for 2018 due to short-term operational challenges impacting Horizon Global’s revenue and profitability coupled with multiple initiatives underway as part of Company’s Action Plan
  • Revised outlook for 2018 based on updated assessment of operational performance:
    • Distribution challenges in Americas business driving lower-than-expected second quarter 2018 results; improvements in Kansas City distribution center gaining momentum late in second quarter
    • Europe-Africa business behind plan; segment leadership change and new operational initiatives underway
    • Asia-Pacific continues to perform in-line with expectations
  • Company continues to move initiatives forward as part of business's Action Plan
  • Triggering events during second quarter may result in additional non-cash goodwill impairment in Europe-Africa.

TROY, Michigan--(BUSINESS WIRE)--Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, today provided a revised business outlook and an update on its Action Plan, including actions to improve performance in its Americas and Europe-Africa segments.“I have been closely involved with the operational challenges and related solutions in the Americas since late January of this year, and I have spent the past month evaluating our global operations and meeting with the management te

Language:
English
Contact:

Horizon Global Corporation
Christi Cowdin
Director, Corporate Communications & Investor Relations
(248) 593-8810
ccowdin@horizonglobal.com

Ticker Slug:
Ticker:
HZN
Exchange:
NYSE

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06/15/2018
Horizon Global Announces Termination of Brink Acquisition Agreement
Dateline City:
TROY, Mich.

TROY, Mich.--(BUSINESS WIRE)--Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, today announced that the Company and H2 Equity Partners have mutually agreed to terminate the Brink Group acquisition agreement, effective June 14, 2018. As part of the termination agreement, Horizon Global agreed to pay a break fee to the Brink Group in the amount of €4.75 million.

The acquisition will be withdrawn from regulatory review in Germany and the U.K.

Language:
English
Contact:

Horizon Global Corporation
Christi Cowdin, 248-593-8810
Director, Corporate Communications & Investor Relations
ccowdin@horizonglobal.com

Ticker Slug:
Ticker:
HZN
Exchange:
NYSE

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05/08/2018
Horizon Global Board of Directors Appoints Carl Bizon, Current President of Horizon Global Americas, Interim President and Chief Executive Officer
Dateline City:
TROY, Mich.

TROY, Mich.--(BUSINESS WIRE)--The Board of Directors of Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, today announced that it appointed Carl Bizon to serve as Interim President and Chief Executive Officer, effective immediately, to build on Horizon Global’s solid foundation and increase profitability for long-term sustainable growth. The appointment follows the Board’s acceptance of Mark Zeffiro’s resignation from his executive positions and as a director.

Language:
English
Contact:

Horizon Global
Christi Cowdin, 248-593-8810
Director, Corporate Communications & Investor Relations
ccowdin@horizonglobal.com

Ticker Slug:
Ticker:
HZN
Exchange:
NYSE

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05/03/2018
Horizon Global Reports Financial Results for First Quarter 2018; Updates Progress on Targeted Action Plan
Dateline City:
TROY, Mich.

Business Update

  • Progress against previously announced targeted action plan, including workforce reductions and facility consolidation
  • Net sales increased from $203.3 million to $216.8 million, up 6.6 percent
    • Net sales relatively flat in constant currency(3)
  • Non-cash goodwill impairment of $43.4 million in the Europe-Africa segment negatively impacted consolidated operating results
  • Operating loss of $(53.3) million, operating margin of (24.6) percent
    • Adjusted operating profit(1) of $(2.9) million, adjusted operating profit(1) margin of (1.4) percent
  • First quarter diluted earnings per share of $(2.30)
    • First quarter adjusted diluted earnings per share(2) of $(0.32)
  • Full-year 2018 guidance on an adjusted basis reaffirmed

TROY, Mich.--(BUSINESS WIRE)--Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, today reported first quarter results. The Company also provided an update on its targeted action plan, focused on the restructuring of its Americas segment and business improvement activities in its Europe-Africa segment.

Language:
English
Contact:

Horizon Global Corporation
Christi Cowdin, 248-593-8810
Director, Corporate Communications & Investor Relations
ccowdin@horizonglobal.com

Ticker Slug:
Ticker:
HZN
Exchange:
NYSE

read more