Horizon Global Announces Agreement To Sell Asia-Pacific Business Segment
Proceeds of the sale will be used to significantly reduce debt, the company says.
Horizon Global Initiates Process To Explore Sale Of Its Asia-Pacific Segment
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.
Horizon Global Names Jamie Pierson As Chief Financial Officer
The company also announced that Barry Steele, who had been serving as CFO for Horizon Global since Feb. 18, will be leaving the company for personal reasons.
Horizon Global Announces NYSE Acceptance Of Continued Listing Compliance Plan
On Jan. 3, Horizon Global received a letter from the NYSE informing the company of its non-compliance with the NYSE continued listing standards because the company’s average market capitalization over a recent consecutive 30-day-trading period had been less than $50,000,000, and at the same time, stockholders’ equity was less than $50,000,000.
Horizon Global Reports 4th-Quarter, Full-Year 2018 Results
The company reported full-year net sales of $850 million, down 4.8 percent from 2017, and an operating loss of $170.4 million.
Horizon Global Names Barry Steele As Chief Financial Officer
Steele will be joining Horizon Global from his role CFO at Gentherm Inc., a global developer and marketer of innovative thermal management technologies for a broad range of heating and cooling and temperature control applications for the automotive and medical markets.
Horizon Global Comments On NYSE Non-Compliance Notice
Horizon Global has 45 business days to notify the NYSE of its intent to resolve this deficiency and the company says it intends to do so on a timely basis.
Horizon Global Board Of Directors Appoints Carl Bizon As President And CEO
The company also has announced the departure of CFO David Rice.
Horizon Global Announces Termination Of Brink Acquisition Agreement
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 (approximately $5.5 million USD).
Horizon Global Board Of Directors Appoints Carl Bizon To Interim President And CEO
The appointment follows the board’s acceptance of Mark Zeffiro’s resignation from his executive positions and as a director. The board will immediately begin a search to identify a permanent CEO with the assistance of a leading executive recruiting firm.
