NBHX Acquires Sellner Group Automotive Wood-Veneer And Plastics Manufacturing Facilities

Plants Include Grand Rapids, Michigan Trim Producer for Premium Cars

GRAND RAPIDS, MI (MARKETWIRE) - NBHX, a leading Chinese provider of automotive interior components to OEM manufacturers including GM, Ford, BMW, and Toyota, has acquired core components of the Sellner Group, one of the world's largest producers of automotive wood-veneer trim and interior plastic parts. The components include Sellner GmbH and IPG Industrieplast GmbH in Heilsbronn, Germany, and the Sellner Corporation in Grand Rapids, Michigan. Terms of the acquisition were not announced.

In addition to committing to maintain the entire Sellner workforce and develop plans to expand its Grand Rapids plant, NBHX confirmed its intention to continue development of an advanced research facility in Neuendettelsau, Germany.

"This acquisition means that OEMs and their Tier 1 providers have a stronger, more dependable vendor base for automotive trim parts," said Tim Hoefer, NBHX director of business development in North America. "Combining the expertise and market penetration of the Sellner entities with the financial and manufacturing strength of NBHX will make higher-quality components at competitive price points available to a broader, global market."

In the sale, NBHX acquired a group that is one of the market leaders for high-quality decorative components and functional elements for premium cars. It has successfully focused on this niche market where it has an impressive customer portfolio consisting of all market-relevant OEMs. At the time of the acquisition, Sellner maintained manufacturing facilities in Germany and the United States and sustained a world market share in wood-veneer trims of about 23% (ranked #2).

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.

SOURCE: NBHX