STUTTGART, 02-Mar-2018 — /EuropaWire/ — The MAHLE Group intends to sell its shares in the joint venture Hella Behr Plastic Omnium (HBPO) to fellow shareholder Plastic Omnium. The two parties signed an agreement effective today, Thursday, March 1, 2018. MAHLE is thus consistently pursuing its plan to focus on its strategic core business.
HBPO is specialized in the assembly, logistics, development, and design of front-end modules, consisting of bumpers, lighting systems, and cooling components. Assembly of front-end modules is not integral to MAHLE’s core business. MAHLE focuses on the development and production of cooling modules. The cooling modules installed in the front-end module are usually commissioned by the automobile manufacturers, and their assembly is therefore the responsibility of the front end module manufacturers. MAHLE will retain close links with HBPO in this area.
In connection with its strategic orientation, MAHLE will, in the future, invest more intensively and consistently in new technologies in the area of e-mobility. Key components include cooling modules, electric engines, and power electronics, for example.
HBPO was formed in 2004 as an equal joint venture between the three automotive suppliers Hella, Plastic Omnium, and Behr. Through its majority acquisition of the Behr Group, MAHLE now holds 33.33 percent of the shares in the joint venture. It is intended that these are transferred to Plastic Omnium. The transaction is still subject to antitrust approval.
MAHLE is a leading international development partner and supplier to the automotive industry as well as a pioneer for the mobility of the future. The MAHLE Group is committed to making transportation more efficient, more environmentally friendly, and more comfortable by continuously optimizing the combustion engine, driving forward the use of alternative fuels, and laying the foundation for the worldwide introduction of e-mobility. The group’s product portfolio addresses all the crucial issues relating to the powertrain and air conditioning technology—both for drives with combustion engines and for e-mobility. MAHLE products are fitted in at least every second vehicle worldwide. Components and systems from MAHLE are also used off the road—in stationary applications, for mobile machinery, rail transport, as well as marine applications.
In 2016, the group generated sales of approximately EUR 12.3 billion with about 77,000 employees and is represented in 34 countries with 170 production locations. At 16 major development centers in Germany, Great Britain, Luxembourg, Spain, Slovenia, the USA, Brazil, Japan, China, and India, 6,000 development engineers and technicians are working on innovative solutions for the mobility of the future.
For further information, contact:
Corporate Communications/Public Relations
70376 Stuttgart, Germany
Phone: +49 711 501-12199
Fax: +49 711 501-13700
SOURCE: MAHLE GmbH