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HELLA To Sell Relay Business To Hongfa

HELLA GmbH & Co. KGaA (HLKHF) said that it agreed to sell its existing relay business to the Chinese relay manufacturer Hongfa.

The transaction is expected to close by the end of the year, with the price being around EUR 10 million. As a result, about 280 employees will transfer to Hongfa.

In the last fiscal year, HELLA reported sales of 43 million euros in this business field.

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