The MAHLE Group has signed an agreement for the acquisition of the majority share in Slovenian group Letrika d.d.

Letrika develops and manufactures innovative electric motors, starter motors, generators, and electrical drive systems for customers in the passenger car, commercial vehicle, and agricultural and construction machinery markets.

The acquisition of approximately 54 percent is part of a privatization offensive targeting Slovenian companies that have until now been under majority state control. In 2013, Letrika generated sales of €242.5 million with its 2,416 employees at seven production and development locations in Slovenia, Bosnia and Herzegovina, Belarus, China, and Brazil.

“As part of our medium- and long-term strategy to establish a mechatronics/electrics business unit within the MAHLE Group, the acquisition of the majority share of Letrika is of central importance to us,” explains Prof. Dr. Heinz Junker, Chairman of the MAHLE Management Board and CEO. “We want to generate sales of around €500 million in this area in the medium term, and achieve many times this figure in the long term.”