Ningbo auto parts supplier expands its international reach with acquisition

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    Ningbo Huaxiang Electronic Company (Ningbo Huaxiang) has acquired Germany-based auto parts supplier Sellner Group for approximately Rmb186 million (US$29.3…

    Ningbo Huaxiang Electronic Company (Ningbo Huaxiang) has acquired Germany-based auto parts supplier Sellner Group for approximately Rmb186 million (US$29.3 million). The target went into insolvency earlier this year.

    The acquirer is a privately-owned manufacturer and has 15 factories across China. This is its first outbound acquisition. The target is a leading supplier of high-end automobile interior decoration components, with long-term supply agreements with BMW, Daimler and Audi.

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