on NEXANS (EPA:NEX)
Nexans sells Autoelectric to Motherson to focus on electrification
Nexans has announced that it has entered into exclusive negotiations with Motherson to sell its Autoelectric wiring harness business for €207 million. Autoelectric, based in Germany, generated €749 million in revenue in 2024 and employs nearly 14,000 people. This sale marks Nexans' transformation into a player dedicated to electrification.
Julien Hueber, CEO of Nexans, stated that this sale is part of the company's strategy to refocus on electrification. Vivek Chaand Sehgal, Chairman of Motherson, emphasized that the acquisition will strengthen their overall capabilities. The transaction, subject to regulatory approvals, is expected to close by mid-2026.
R. E.
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