Wednesday, October 27, 2021

Faurecia acquires majority 60% stake in Hella electronics

The French automotive supplier Faurecia has acquired a 60 % stake in the German electronics specialist Hella. The two companies aim to expand their market positions together.

By combining their activities, Faurecia and Hella will become the seventh-largest automotive supplier worldwide. After taking over 60% of the shares, the French company has announced that they will also take over the remaining shares at a price of 60.96 euros per share. Hella says that the closing of the transaction is subject to regulatory approvals and is expected for the beginning of 2022. In electric mobility, Hella is contributing its portfolio in the areas of battery and steering electronics, while Faurecia is contributing hydrogen solutions and storage systems.

According to Rolf Breidenbach, Chairman of the Hella Management Board, the two companies “are a very good fit”. Breidenbach says that both partners place a high value on consequent customer orientation, operative excellence and technology leadership.

Jürgen Behrend, head of the family shareholder pool at Hella says, “As family shareholders, we are fulfilling our corporate and entrepreneurial responsibility for Hella by turning the company Hella over to new owners early on before our family pool agreement expires. This move will further improve the strategic positioning of the company – for the benefit of Hells and its 36,000 employees.”

“Our two talented teams have been cooperating very efficiently. Since the end of 2018, they have demonstrated their combined capabilities. Together, we will have the critical edge to benefit from the strategic drivers that are transforming the automotive industry,” said Faurecia CEO Patrick Koller. “By combining the product portfolios and market reach, we will accelerate profitable growth, through innovation, with more electronic and software content and enhanced execution quality.”

Hella will now be integrated into the Faurecia Group with what the two companies say will be a high level of operational responsibility.

See also  CyberLandr Compact Camper now available for the Tesla Cybertruck

Leannehttps://wegoelectric.net
Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
Latest news
Related news

LEAVE A REPLY

Please enter your comment!
Please enter your name here