Highway Holdings Limited (HIHO), Tuesday announced a letter of intent with LeMALe Beteiligungs-GmbH to acquire 51 percent stake of German-based Regent-Feinbau Adermann GmbH, a certified manufacturing specialist for precision sheet metal components and welded assemblies made of aluminum, steel, and copper.
The transaction, expected to close by the end of March 2026, will be funded by cash and a smaller amount of the company's unregistered shares.
The company said that the acquisition is a part of its short and long-term strategy to reinvigorate its OEM business and strengthen position in the Chinese automotive market.
In the pre-market hours, HIHO is trading at $0.8450, up 1.81 percent on the Nasdaq.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.