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PRESS RELEASE: HELLA GmbH & Co. KGaA: HELLA sells relay business to Hongfa

| Quelle: Dow Jones Newsw... | Lesedauer etwa 3 min. | Text vorlesen Stop Pause Fortsetzen


DGAP-News: HELLA GmbH & Co. KGaA / Key word(s): Disposal/Strategic Company
Decision
HELLA GmbH & Co. KGaA: HELLA sells relay business to Hongfa

2019-11-12 / 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.

*Please note: *
This text and corresponding photo material can also be found in our press
database at:
www.hella.com/press [1]

*HELLA 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
Company spokesman
HELLA GmbH & Co. KGaA
Rixbecker Strasse 75
59552 Lippstadt
Germany
Phone: +49 (0)2941 38-7545
Fax: +49 (0)2941 38-477545
Markus.Richter@hella.com
www.hella.com

2019-11-12 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
Language: English
Company: HELLA GmbH & Co. KGaA
Rixbecker Str. 75
59552 Lippstadt
Germany
Phone: +49 (0)2941 38-7125
Fax: +49 (0)2941 38-6647
E-mail: Investor.Relations@hella.com
Internet: www.hella.de/ir
ISIN: DE000A13SX22
WKN: A13SX2
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich,
Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf,
Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID: 909913

End of News DGAP News Service

909913 2019-11-12


1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=d283c67bfeb689317ad3e68a8d7795fe&application_id=909913&site_id=vwd&application_name=news


(END) Dow Jones Newswires

November 12, 2019 10:00 ET ( 15:00 GMT)
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