The Van Hool Industrial Vehicles business unit has been permanently taken over by GRW, a South African manufacturer of tankers and semi-trailers. The acquisition was formally announced by the board of four curators on Wednesday evening. GRW, a partner company of the German Schmitz Cargobull, intends to be fully operational in Koningshooikt by the beginning of June and plans to employ up to 350 employees.
The agreement between GRW and Van Hool was reached on April 10, based on a binding offer, and a definitive acquisition agreement has now been ratified by both parties. The financial details of the agreement have not been disclosed. The joint trade union front played a crucial role in helping with administrative obligations for the 2,500 former employees, facilitating the formalization of the acquisition.
While discussions regarding the takeover of the bus and coach activities are still ongoing with the VDL Groep, progress is being made and a resolution is expected in the near future. GRW is eager to resume production activities quickly to fulfill current orders and retain the expertise of employees, with production expected to restart on April 29 in three phases, aiming for full operational capacity by June 2024.
GRW currently produces 1,200 tankers annually with a workforce of 630 employees, while Schmitz Cargobull produces approximately 60,000 vehicles annually with over 6,000 employees. Both companies are key players in the industry, and their collaboration in the takeover of Van Hool promises a strong future for the business unit.