The Shyft (US:SHYF) Prnewswire·2025-07-02 10:31Core Viewpoint - The Shyft Group has successfully completed its merger with Aebi Schmidt Holding AG, marking a significant consolidation in the specialty vehicle manufacturing sector [1][4]. Company Overview - The Shyft Group is recognized as the North American leader in specialty vehicle manufacturing, assembly, and upfit, serving commercial, retail, and service markets [4]. - Shyft operates two main business units: Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™, with a diverse brand portfolio including Utilimaster®, Blue Arc™ EV Solutions, and Royal® Truck Body [4]. - In 2024, Shyft reported sales of $786 million and employs approximately 2,900 individuals across various facilities in the U.S. and Mexico [4]. Merger Details - The merger with Aebi Schmidt was completed on July 1, 2025, integrating Shyft into the Aebi Schmidt Group, a global leader in infrastructure and agricultural solutions [1][5]. - Following the merger, Aebi Schmidt Group shares began trading on NASDAQ under the ticker symbol "AEBI" on July 2, 2025 [2][7]. - As a result of the merger, Shyft's common stock has been delisted from the NASDAQ Global Select Market, with plans to suspend its reporting obligations with the SEC [3][6]. Aebi Schmidt Group Overview - Aebi Schmidt Group specializes in intelligent solutions for clean and safe infrastructure, generating over 1 billion EUR in net sales in 2024 and employing around 3,000 people globally [5]. - The company has a diverse product range, including vehicles and innovative equipment, and operates in over 90 countries through established dealer partnerships [5].