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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 Q1 Earning Release
Horizon Global welcomed six new independent directors to its Board in April 2019. At the first meeting of the Board of Directors, the Board took action to accelerate its already planned declassification, so all directors would stand for election annually, and also voted to change its general director compensation to all equity, both moves intended to better align with the interests of Horizon Global shareholders.
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Latest News

09/23/2019
Horizon Global Board of Directors Appoints Terrence G. Gohl as Chief Executive Officer
Dateline City:
TROY, Mich.

Gohl also appointed to the Company’s Board of Directors

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’s Board of Directors appointed Terrence G. Gohl as Chief Executive Officer. Gohl has also been appointed to Horizon Global’s Board, effective immediately. These appointments follow the Board’s acceptance of Carl Bizon’s resignation from his executive positions and as a director.

Language:
English
Contact:

Jeff Tryka, CFA
Investor Relations
(616) 295-2509
jtryka@horizonglobal.com

Ticker Slug:
Ticker:
HZN
Exchange:
NYSE

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09/19/2019
Horizon Global Completes Sale of Asia Pacific Business Segment
Dateline City:
TROY, Mich.

Net Proceeds to be Used to Significantly Reduce Debt

TROY, Mich.--(BUSINESS WIRE)--Horizon Global Corporation (NYSE: HZN), the world’s leading manufacturer of branded towing and trailering equipment, announced the closing of the sale of the Company’s Asia Pacific (APAC) business segment to Pacific Equity Partners (PEP) for AUD $340 million (approximately USD $233 million) in cash, subject to customary closing adjustments. Horizon Global will use the net proceeds to significantly reduce its debt and allow for increased financial flexibility.

Language:
English
Contact:

Jeff Tryka, CFA
Investor Relations
(616) 295-2509
jtryka@horizonglobal.com

Ticker Slug:
Ticker:
HZN
Exchange:
NYSE

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08/16/2019
Horizon Global Announces Definitive Agreement to Sell Asia-Pacific Business Segment
Dateline City:
TROY, Mich.

Proceeds to be Used to Significantly Reduce Debt

TROY, Mich.--(BUSINESS WIRE)--Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, announced today that the Company has entered into a definitive agreement to sell its Asia-Pacific (APAC) business segment to Pacific Equity Partners (PEP) for AUD $340 million in cash, subject to customary closing adjustments. The Company intends to use the proceeds from the sale to significantly reduce its debt and bolster its liquidity, allowing for additional financial flexibility.

Language:
English
Contact:

Jeff Tryka, CFA 
Investor Relations
(616) 295-2509
jtryka@horizonglobal.com

Ticker Slug:
Ticker:
HZN
Exchange:
NYSE

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08/08/2019
Horizon Global Reports Financial Results for Second Quarter 2019
Dateline City:
TROY, Mich.

Business Update

  • Net sales decreased $10.2 million, or 4.4%, to $223.2 million from prior year comparable period
    • Decrease mainly attributable to unfavorable foreign currency translation
    • On a constant currency(1) basis, net sales decreased 1.3%
  • Operating profit of $7.1 million, or 3.2% of net sales; an improvement of $71.2 million over prior year comparable period, primarily due to a $55.7 million goodwill impairment charge recorded in second quarter 2018
    • Adjusted operating profit(2) of $10.1 million, or 4.5% of net sales; a decrease of $3.7 million from prior year comparable period

TROY, Mich.--(BUSINESS WIRE)--Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, today reported financial results for the second quarter of 2019.

Language:
English
Contact:

Jeff Tryka, CFA
Investor Relations
(616) 295-2509
jtryka@horizonglobal.com

Ticker Slug:
Ticker:
HZN
Exchange:
NYSE

read more