Hella acquires full stakes of its Chinese relay JV

Shanghai, February 25 (Gasgoo.com) German auto-parts supplier Hella has announced that it has completed the acquisition of its previous joint venture Hella Hongfa (Xiamen) Automotive Electronics (HAE) in China recently.

Hella said it has acquired the 30 percent share held in HAE by former partner Xiamen Hongfa Electroacoustic, turning HAE into a wholly owned subsidiary of Hella KGaA Hueck & Co., a tier-one supplier of automotive lighting and electronic equipment.

"The acquisition of the remaining shares is an important step for Hella to further improve its relay business and accelerate operational benefits, according to Dr. Martin Fischer, president of Hella Electronics Corp. and Hella Corporate Center USA, both based in Plymouth, Michigan.

HAE is co-founded in December 2003 by Hella Group and Xiamen Hongfa Electronics Co to specialize in the development and production of relays for the automotive industry. The joint venture company employs 220 staff and generates more than $18 million in sales annually.