Hella will be part of Forvia in the future

The large automotive supplier Hella from Westphalia will appear under the name Forvia from now on. This is the name of the new umbrella brand after the French group Faurecia recently took over the majority of the headlight specialist from Lippstadt. Together, the two companies form the seventh largest automotive supplier in the world: a structure with around 150,000 employees that manufactures seats, sensors and lighting technology, for example. However, both companies should initially remain listed independently on the stock exchange, and operational co-determination should also be retained. Faurecia has secured a good 80 percent of Hella shares in the past few months. The starting point for the merger was that the Hueck and Röpke families, who had branches out, sold their Hella shares to Faurecia in one go – also out of concern about a possible price collapse if several family members sold their shares in an uncontrolled manner in the future. Faurecia hopes the merged entity will grow more profitably than either company individually. The partners want to open up additional markets, the annual costs are to be reduced by 250 million euros.

Reference-www.sueddeutsche.de

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