Aurelius takes over wholesale company Hellanor in Norway

The lighting and electronics specialist Hella sells the Norwegian company Hellanor and completes the sale of the wholesale business. The Norwegian company Hellanor A/S will be transferred to Aurelius Equity Opportunities SE & Co KGaA.

The parties have agreed not to disclose the amount of the purchase price. The transaction is still subject to approval by the relevant anti-trust authorities; approval is expected by the end of the year, a press release reads. "With the completed withdrawal from the wholesale business, we are advancing the strategic realignment of our aftermarket," says Dr. Werner Benade, Managing Director responsible for the Aftermarket and Special Applications segments at Hella. "In the future, we will thus align our product portfolio even more strongly along our original equipment competencies, especially in the areas of lighting and electronics while linking it to our strong workshop equipment expertise. Above all, we will continue to expand our successful repair solutions business and take advantage of new growth opportunities arising from the digitalization and increasing interconnectedness of vehicles." Against the background of the strategic realignment of the aftermarket, Hella had already sold the two Danish and Polish wholesale companies FTZ and Inter-Team to the Swedish wholesaler Mekonomen in September of this year. Hellanor currently employs around 250 people and generated sales of around 70 million euros in the past 2017/2018 fiscal year.

MagnaChip Semiconductor says that certain of its wholly-owned subsidiaries have entered into a definitive agreement to sell the company's Foundry Services Group and the factory in Cheongju (Fab 4), the larger of the company's two 8" manufacturing facilities.

Against the backdrop of the current situation related to the spread of COVID-19 and the resulting restrictions in private and business lives, Singulus Technologies is implementing short-time work at two of its German sites.

Kyocera Corporation has entered into a share transfer agreement with NEC Corporation on March 25, 2020 to acquire all of NEC’s shares in Showa Optronics Co., Ltd., an optical components manufacturer.

The economic and social effects caused by COVID-19 are currently creating supply chain disruption and uncertainty around future demand.

Due to a Movement Control Order announced by the Malaysian government, Renesas three production sites located in the country temporarily halted productions from March 18, 2020.

TTI, Inc. says it remains open following the guidelines mandated by local and federal governments during the COVID-19 coronavirus outbreak, with precautions in place to safeguard employees’ health.

Nokia says it has completed its acquisition of U.S.-based supplier of silicon photonics technology, Elenion Technologies.

On March 24, 2020, Nexperia announced that CEO Frans Scheper has decided to take early retirement and will step down as Nexperia CEO and Management Board Member per March 25, 2020.

Ohio-based Intellitronix Corporation, a subsidiary of US Lighting Group, has been invited by the Ford Motor Company to submit a proposal to design and manufacture an automotive electronics component for one of the automaker’s upcoming vehicles.

NEXT Biometrics has received an additional order for UIDAI and STQC certified fingerprint biometric readers in India valued at USD 360,000. The customer has provided a 20% upfront payment and the readers have been delivered to the customer.

Because of the global corona pandemic, Elmos Semiconductor AG is planning to introduce short-time work of up to 50%.

paragon is set to take immediate action in response to moves by automotive manufacturers closing down their plants. The company is now reducing production at its automotive manufacturing sites in Germany to a minimum for the time being.