Hella clocked sales of € 43 million in its relay business in the last fiscal year
Hella has lined up plans to sell its existing relay business to the Chinese relay manufacturer Hongfa. It may be noted that the company had clocked sales of € 43 million in existing relay business in the last fiscal year. Hella said approximately 280 employees will transfer to Hongfa – one of the world’s largest suppliers of relays and the transaction is expected to close by 2019-end.
Dr. Rolf Breidenbach, CEO, Hello, said going forward the company wants to focus more on futuristic technologies such as electric mobility and autonomous driving.
Guo Manjin, Chairman, Hongfa Group, said the acquisition of Hella’s relay business will enable it to further expand its market position as one of the world’s leading relay manufacturers.