AXN Heavy Duty, which was established 16 years ago in 2008, sells axles and suspension systems for the truck, trailer and bus segment in North America.

The transaction, which is mainly components for car and light commercial vehicles, includes the manufacturing operations of two prominent engine parts brands of Moresa and TF Victor, which specialize in pistons and engine gaskets.

The semi-trailer and drawbar trailer segment recorded a decline in sales of 1.9%, whereas body builder sales rose by 16.3%.

Its sales projection for the first year of operation is to export over 100 units and in five years to time exceed 750 units annually.