DGAP-News: HELLA GmbH & Co. KGaA: HELLA sells relay business to Hongfa
Autor: DGAP - EQS Group AGauf twitter
DGAP-News: HELLA GmbH & Co. KGaA
/ Key word(s): Disposal/Strategic Company Decision
HELLA GmbH & Co. KGaA: HELLA sells relay business to Hongfa
12.11.2019 / 16:00
The issuer is solely responsible for the content of this announcement.
HELLA sells relay business to Hongfa
Automotive supplier aligns electronics business even more strongly in line with the automotive market trends of electric mobility and autonomous driving
Lippstadt/Xiamen, 12 November 2019. The lighting and electronics specialist HELLA is aligning its electronics business even more closely along the major market trends of electric mobility and autonomous driving. Against such a backcloth, HELLA will now sell its existing relay business to the Chinese relay manufacturer Hongfa. In the last fiscal year, HELLA achieved sales of EUR 43 million in this business field. The object of the transaction are the corresponding development and production activities of the two HELLA companies located in Xiamen, China. The transaction is expected to close by the end of the year, with the price being around EUR 10 million. As a result, approximately 280 employees will transfer to Hongfa.
"In the years to come, we want to concentrate even more strongly on the central future topics of the automotive industry," explains HELLA CEO Dr. Rolf Breidenbach. "We see these topics as being primarily those of electric mobility and autonomous driving. So we are delighted to have found in Hongfa an experienced partner who will successfully further develop our relay business."
Guo Manjin, Chairman of the Hongfa Group, explains: "The acquisition of HELLA's relay business will enable us to further expand our market position as one of the world's leading relay manufacturers. The transaction will enable us to secure the established market and product advantages of HELLA in the area of relays and combine these with our distinctive management and technology expertise and more than 35 years of relay expertise."
Hongfa is one of the world's largest suppliers of relays. In 2018, the company achieved total sales of around EUR 1.2 billion.
This text and corresponding photo material can also be found in our press database at:www.hella.com/pressHELLA GmbH & Co. KGaA, Lippstadt: HELLA is a global, family-owned company, listed on the stock exchange, with over 125 locations in some 35 countries. With sales of EUR?7.0?billion in the fiscal year 2018/2019 and 39,000 employees, HELLA is one of the leading automotive suppliers. HELLA specialises in innovative lighting systems and vehicle electronics and has been an important partner to the automotive industry and aftermarket for more than a century. Furthermore, in its Special Applications segment, HELLA develops, manufactures and sells lighting and electronic products for specialist vehicles.For more information please contact:
Dr. Markus Richter
HELLA GmbH & Co. KGaA
Rixbecker Strasse 75
Phone: +49 (0)2941 38-7545
Fax: +49 (0)2941 38-477545
12.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
HELLA GmbH & Co. KGaA
Rixbecker Str. 75
+49 (0)2941 38-7125
+49 (0)2941 38-6647
Regulated Market in Frankfurt (Prime Standard), Munich, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID:
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