Hella buys out TMD Friction’s Hella Pagid joint-venture shares
TMD Friction and Hella have agreed to transfer the 50 per cent share currently held by TMD Friction in the brake joint venture Hella Pagid to Hella. Hella will thus become the sole shareholder of Hella Pagid. Founded in 2013, Hella Pagid, a joint venture between automotive supplier Hella and brake friction manufacturer TMD Friction, sells brake components and accessories on the global automotive aftermarket. The purchase price has not been disclosed.