TMD Friction, HELLA ink deal for HELLA to acquire 50% share in brake joint venture HELLA Pagid

ATI News Team

HELLA to acquire Hella Pagid, expanding brake product sales

TMD Friction and HELLA have agreed to transfer the 50% share held by TMD Friction in the brake joint venture Hella Pagid to HELLA. The two companies signed a letter of intent, with HELLA becoming the sole shareholder of Hella Pagid. Founded in 2013, Hella Pagid sells brake components and accessories on the global automotive aftermarket. The parties have agreed not to disclose the purchase price, said a press release on December 1.

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