Huaxiang to Take Over Wech CHEB for €6 Million

Chinese supplier Ningbo Huaxiang Electronic Co., Ltd. (NBHX) will acquire two units of bankrupt German premium interior trim supplier Sellner Holding GmbH in a bid to gain access to the German and U.S. markets. The two businesses are Sellner GmbH in Germany and Sellner Corp. in the United States. Both produce wooden interior components for automobiles, according to Huaxiang.
The company will pay €18.7 million for Sellner GmbH and its plastic interior parts subsidiary IPG Industrieplast. €2.6 million will be spent to take over U.S. Sollner Corporation. Additionally, Huaxiang will pay €6 million to purchase Wech CHEB spol. s.r.o., a company in the Czech Republic that provides plywood pressing services for Sellner GmbH.
Sellner Holding's major customers are Audi AG, Mercedes-Benz and BMW AG.

NBHX is located in the east China city of Ningbo and produces injection molded thermoplastics for interior and exterior decorative trims and metal components, chassis parts, electrical components and HVAC parts. The company mainly supplies the Chinese joint ventures of Volkswagen AG, General Motors Co. and Ford Motor Co.