Westfalia-Automotive achieves debt forgiveness and release from all First Brands Group related claims
1.6.2026 15:57:14 CEST | news aktuell GmbH | Press release
Rheda-Wiedenbrück, Germany – After successfully separating from First Brands Group in March 2026, Westfalia Automotive Group has completed a transaction resulting in debt forgiveness for group entities in the amount of approximately USD 246 million, as well as a release from all First Brands related claims.
"This transaction creates a debt-free operating group and significantly strengthens the underlying balance sheets of Westfalia — another significant milestone. With a focus on expanding production and customer care, the business is well positioned for continued growth. As the primary 'made in Europe' towing brand, we are committed to the customers and partners who have made us a market leader, and our entire team is energized to build on that foundation." — Michael Scott, Board Member, Westfalia-Automotive Group
“Westfalia-Automotive enters this next chapter from a position of strength. A competitive brand is built on strong partnerships with our customers, and we are fully committed to delivering on an exciting pipeline of new products. Our teams and operational sites in Germany, France, Romania and India are ready to build, deliver, and grow, ensuring we meet the diverse needs of our partners in the automotive industry.” — Tomasz Sgaslik, Managing Director, Westfalia-Automotive Group
About Westfalia-Automotive Group
Westfalia-Automotive is the European market leader and one of the world's leading manufacturers of towbars and bike racks for cars and light commercial vehicles.
The company serves automotive original equipment manufacturers (OEMs), wholesalers, and dealer networks as the category leader in the automotive and leisure segments. Westfalia-Automotive provides its customers with outstanding products and services that reflect the company’s commitment to market leadership, innovation, and operational excellence.
The Company’s mission is to utilize forward-thinking technology to develop and deliver premium products for customers, engage with employees, and create value for shareholders.
Westfalia-Automotive is home to some of Europe’s most recognized brands in the towing industry, including: Westfalia-Automotive, Siarr, Witter-Towbars and others.
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news aktuell, a subsidiary of the Deutsche Presse-Agentur (dpa), provides companies, institutions and associations with effective access to both the media and consumers and supports the organizations in telling their stories easily and successfully. Utilizing the digital tools “ots” and “zimpel” PR content reaches all media formats, including classic print titles, wide-reach online portals or social networks. In addition, news aktuell publishes all of its clients' PR content on www.presseportal.de, one of Germany's widest-reaching PR portals. Thus, all relevant multipliers are reached worldwide, ranging from editors and digital influencers to specialist bloggers and interested consumers. Communications specialists from all over Germany rely on the expertise of the dpa subsidiary. news aktuell has been on the market since 1989 and employs over 135 people. The company is based in Hamburg. Further locations include Berlin, Frankfurt and Munich.
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