Hiab Oyj (CYJBY) M&A Call Transcript

Aki Vesikallio
Vice President of Investor Relations

Hiab just announced the acquisition of refuse collection vehicle manufacturer, Labrie Environmental Group, based in North America for enterprise value of USD 1,035 million. The acquisition significantly strengthens Hiab’s position in the essential industry of waste recycling. Welcome to the joint investor and press conference. My name is Aki Vesikallio. I’m from Investor Relations. Today’s presentation will be held by Hiab’s President and CEO, Scott Phillips. Our CFO, Mikko Puolakka, will join us for the Q&A session to be held after Scott’s presentation. With that, over to you, Scott.

Scott Phillips
President & CEO

Thank you, Aki. And good morning from my side. Really excited to have the opportunity to share with you this milestone announcement. First, I’d like to start out by saying a huge thank you to all of those within and outside of the business that help make this happen and bring it all together. Secondly, I would like to extend a warm welcome to the 1,200 terrific colleagues that will newly join the Hiab family post closing. So a big warm welcome from my side. So diving into the rationale and to give you some highlights and details around the acquisition.

So first, really excited that we were able to expand our position in a core segment exposure waste and recycling by further being able to serve customers and essential industry needs by adding a significant new product