We are pleased to inform that, on 19 December 2024, we concluded an agreement for the SODECIA Group to enter the share capital of the HUF Group, subject to conditions precedent to be finalized.

The Huf Group, established in Velbert by Ernst Hülsbeck and August Fürst in 1908, has more than 110 years of experience in the market with a high reputation and recognized quality.

HUF Group is the specialist for secure car access and authorization systems, supplies mechanical, electronic and software solutions for the global automotive industry, being today present in 17 locations in Europe, America and Asia. In the 2023 financial year, the HUF Group generated sales of more than 1.2 billion EUR and employed 7,500 people worldwide.

SODECIA’s entry will take place in several stages, starting with a minority stake of 30 per cent and progressively increasing to the acquisition of the entire share capital. We will participate in management from the outset, but with a minority position on the governing bodies.

This transaction represents a business opportunity of great interest and potential for our Group, leading to the creation of a new ‘Access & Authorization’ division, dedicated to the products for the automotive industry in which HUF is one of the main international players.

With this move, SODECIA is broadening its product portfolio, but also its position in new geographies, opening the door to new customers beyond the traditional ones in our Group. In doing so, we are increasing our exposure to the automotive sector but also reducing the risks associated with concentrating on products and customers.

The importance of this operation for strengthening our industrial position and competitiveness is significant, reinforcing SODECIA as one of the strongest strategic suppliers to the world’s main OEMs.