DETROIT, MI -- (Marketwire) -- 01/30/13 -- Helbako GmbH, a major supplier of automotive electronic control components, recently announced the formation of SHHX Helbako Automotive Co. Ltd., a joint venture with automotive supplier Ningbo Huaxiang Electronics Co. Ltd. (NBHX) headquartered in Pudong, Shanghai. SHHX Helbako will begin production of PCB sensor and control systems in 2014. The venture, along with a strategic investment in Helbako by the chairman of the NBHX Group, Mr. Zhou Xiao Feng, is a milestone in Helbako's development of a global manufacturing platform.
"China is one of the most important and fastest growing sensor and control markets for our existing customers like BMW, Volkswagen, Audi, and Mercedes. Establishing local presences strengthens our ability to meet their expanding needs, whether in NAFTA or China," said Ulf Zimmermann, Helbako director of international development.
The excellent market position of both companies creates opportunities for global market penetration, increased asset utilization, and revenue enhancement. In 2011, Helbako launched its first globalization effort in a joint venture with HeWe Texas LLC in Del Rio, Texas, and Acuna, Mexico, with partner W.E.T. Automotive Systems AG of Odelzhausen, Germany. Today, the venture manufactures electronic sensor and control modules for the NAFTA region.
"Following our success in the North American market, we identified significant growth potential in Asia. Through our relationship with NBHX, we hope to develop new products and customers in China," said Helbako CEO Ralf Burmester.
NBHX, a leading supplier of automotive interior systems and components, has operations in the Peoples Republic of China, Germany, and the United States. Underlining the seriousness of the common acting the Chairman of the NBHX Group, Mr. Zhou Xiao Feng entered Helbako GmbH Germany as a minority shareholder.
Timothy Hoefer, NBHX North America director of new business development, indicated that "the combined footprint of both NBHX and Helbako presents automotive OEM engineering and procurement communities with a financially strong and technically superior global PCB sensor and control systems supplier." Mr. Hoefer will support both NBHX and Helbako marketing efforts in the North American market.
About NBHX
Ningbo Huaxiang Electronic Co., Ltd. (NBHX) develops, manufactures, and distributes automotive components for medium- and premium-class vehicles. Founded in 2001, NBHX owns and operates 15 manufacturing sites in mainland China with 5000 employees. Major customers include Audi, BMW, FAW (Fawer), GM, Mercedes, Nissan, Toyota, Volkswagen, and Volvo. NBHX products include injection-molded thermoplastics for interior and exterior decorative trims, instrument panels, exterior mirror assemblies, chassis accessories, and electrical and HVAC components. NBHX is listed on the Shenzhen stock exchange.
About Helbako
For more than 30 years, Helbako GmbH has designed and manufactured automotive electronic control components. Helbako works with automotive OEMs providing engineered systems to achieve more fuel efficient, more comfortable, and safer vehicles. Customers of the medium sized, family-owned company include BMW, Audi, Volkswagen Daimler, Porsche, and Rolls Royce. For more information about Helbako, visit www.helbako.de.
Contact
Tim Hoefer
NBHX North America Director of New Business Development
+1 719.359.3070
Email Contact
Steve Koontz
Koontz and Associates
+1 831.251.4709
Email Contact
