Van Hool definitively chooses VDL and Schmitz Cargobull

• The Belgian bus maker Van Hool is taken over by VDL and Schmitz Cargobull.
• VDL takes over the bus and coach division, while Schmitz Cargobull takes over the industrial vehicle sector.
• The takeover may provide jobs to 650 to 950 employees, but also means that 1,550 to 1,850 employees will lose their jobs.

VDL, Van Hool’s Dutch colleague, and the German trailer manufacturer Schmitz Cargobull are jointly taking over the bankrupt Belgian bus factory Van Hool. VDL will become the owner of the bus division and Schmitz Cargobull will take over the industrial vehicle sector.

The curators of the Belgian company have reached an agreement in principle with both parties, a Van Hool spokesperson reported on Wednesday evening.

The offer that the companies made after Van Hool was declared bankrupt on Monday was discussed and accepted with all parties involved. “The other bids that were submitted to the board of curators in recent days were of course also discussed with the same stakeholders and ultimately not retained”, said Van Hool.

VDL and Schmitz Cargobull initially seemed to be the only candidates, but on Tuesday it emerged that Belgian businessman Guido Dumarey had made a competing bid for the bus division together with the American dealer of Van Hool buses, ABC. He promised to save more jobs. Schmitz Cargobull faced last-minute competition from the Belgian rescue specialist CIM Capital.

On Wednesday, the CEO of VDL’s bus division increased the pressure by announcing that he would not participate in a bidding war. He demanded a ‘yes’ from the curators before the end of the day, otherwise VDL would withdraw.

Curator Jeroen Pinoy says that the other bids were “not significantly better” than the binding offer from VDL and Schmitz Cargobull. He sees the takeover by the Dutch/German combination as “the best solution for employment and a sustainable restart.”

The restart could create jobs for 650 to 950 employees. This means that 1,550 to 1,850 Van Hool employees will lose their jobs.