Hella: Full control of HHAE in China

Hella have acquired last week the full control of Hella Hongfa Automotive Electronics, the joint venture they formed with Xiamen Hongfa Electroacoustic.
Hella paid an undisclosed amount for Xiamen Hongfa Electroacoustic’s 30 percent share in Hella Hongfa Automotive Electronics, an automotive relay company founded in 2003.
The acquired business in Xiamen employs 220 people and generates more than $18 million in annual sales.