Sodecia Becomes Strategic Investor In Huf Group; Rui Monteiro To Become CEO In 2025
- By MT Bureau
- December 21, 2024
L-R: Florian Graf, Deputy Chairman, Huf Advisory Board, Rui Monteiro, CEO and Owner, Sodecia and Ulrich Hulsbeck, Chairman, Huf Advisory Board.
Portugal-headquartered Sodecia Group has inked a strategic long-term partnership with German automotive supplier Huf Group. Sodecia is set to acquire a minority stake in Huf Group along with commitment to increase its shareholding by 2028.
Furthermore, Sodecia will provide significant funds and enable Huf to execute its future growth strategy, along with Rui Monteiro, CEO and owner of Sodecia, will also become the new CEO of Huf next year.
It was last year that Huf had begun the search for a strategic partner to attain its growth targets in line with its new corporate strategy ‘Grow beyond’. Sodecia is set to acquire 30 percent initially of Huf's shares and in return will provide significant shareholder funds to execute future growth strategy.
The partners have further agreed that by 2028 Sodecia will acquire majority of Huf’s shares. All the while, Huf will continue to operate as a separate entity, headquartered in Velbert, Germany and with representatives of the Huf founding families Hulsbeck and Furst as part of Huf’s advisory board. Dirk Fischer will support Monteiro as the COO and Rainer Heupel as CFO.
Ulrich Hulsbeck, Chairman of the Huf Advisory Board, said, “Sodecia is the ideal partner for Huf. The family-owned company from Portugal has extensive expertise and resources that will enable Huf to not only strengthen its operational excellence, but also to invest in even more innovative car access and authorisation solutions.”
Florian Graf, Deputy Chairman of the Huf Advisory Board and a descendant of the second Huf shareholder and founder family (Furst), added, “We have built a very solid foundation of trust with those in charge at Sodecia and in particular with Rui Monteiro over the past months. We are pleased that Monteiro will take over the role of CEO at Huf next year. Tom Graf will leave Huf on 31 December 2024. We would like to thank Graf for his successful work over the last six years restructuring Huf and wish him all the best for the future.”
Rui Monteiro, CEO and Owner, Sodecia, stated, “Huf has enormous potential and I am looking forward to working with its employees. Huf has full order books, a future-proof product portfolio and dedicated teams worldwide. With Huf, we are gaining an established, global partner for the Sodecia Group with high reputation at automotive manufacturers and also known for top quality. The entire Sodecia Group and thus our customers, but also other partners worldwide will benefit from it.”
Huf Group has established its presence in 17 locations in Europe, America and Asia. It is a leading supplier of mechanical, electronic and software solutions for the global automotive industry.
AUMOVIO, BMW Group Settle Brake Dispute And Ink EUR 1 Billion Supply Agreement
- By MT Bureau
- July 31, 2026
German tier 1 supplier AUMOVIO and the BMW Group have executed a long-term supply and development agreement valued at over EUR 1 billion, while simultaneously settling all pending legal proceedings concerning a past brake system warranty case.
Under the terms of the settlement, AUMOVIO Germany, a subsidiary of AUMOVIO SE, formerly Continental’s Automotive Group sector, will pay BMW EUR 350 million. The settlement amount will be disbursed in two instalments across the third and fourth quarters of 2026.
Prior to the agreement, AUMOVIO had recognised a risk provision of EUR 54 million for the matter. The financial settlement resolves all outstanding claims between BMW, Continental and AUMOVIO.
Alongside the legal resolution, the companies have expanded their technology partnership through new supply contracts for brake systems and electronic controls for future vehicle architectures.
The agreement extends series deliveries of AUMOVIO's MK C2 integrated brake system to BMW through the mid-2030s. The MK C2 unit combines the master cylinder, brake booster, anti-lock braking and electronic stability control into a single module designed to support regenerative braking, pressure build-up for automated driving and vehicle weight reduction.
Philipp von Hirschheydt, CEO, AUMOVIO, said, “The agreement with the BMW Group is an important step for us to strengthen our business relationship. It demonstrates confidence in our innovative brake technology and at the same time motivates us to further advance the partnership between our companies and jointly shape the future of mobility.”
The contract portfolio also covers the supply of brake calipers and electronic control units. The expanded commitments establish supply chain continuity for BMW's upcoming vehicle platforms while securing long-term production volumes for AUMOVIO.
EuroGroup Laminations Appoints Renzo Argentin As Senior Vice President And COO
- By MT Bureau
- July 29, 2026
EuroGroup Laminations (EGLA), a manufacturer and distributor of laminations and cores for electric motors, generators and transformers, has appointed Renzo Argentin as its new Senior Vice President and Chief Operating Officer (COO).
The appointment forms part of EGLA's Performance Improvement program, which aims to integrate and streamline the company's operating model across its international manufacturing operations.
The company is engaged in the design, production and distribution of stators and rotors for electric motors and generators.
In his role as COO, Argentin will oversee operational evolution, focusing on process refinement, production efficiency, industrial performance and supply chain management.
Argentin joins EGLA with over 20-years of operational and financial management experience across international industrial groups, including GEA Group, Marelli and Zanini.
Marco Arduini, CEO, EuroGroup Laminations, said, "Renzo Argentin's arrival represents an important step in EGLA's development. At a time when markets increasingly require greater flexibility, speed, and integration capabilities, we continue to invest in high-level managerial skills to make our operations even more robust, efficient and competitive. Renzo's experience will be crucial to accelerating the improvement of industrial processes and strengthening our ability to support the Group's long-term growth."
Renzo Argentin, added, "I am proud to join a Group that is a global benchmark in its sector and has built its leadership through a unique wealth of industrial and technological expertise. We will work together to leverage this heritage, strengthening operational excellence, process integration and the organisation's ability to support the next stages of development."
FORVIA Accelerates India Expansion With New Complete Seat Assembly Plant
- By MT Bureau
- July 28, 2026
FORVIA has announced a significant expansion of its Indian operations, marked by a new seating programme award that will result in the construction of a dedicated manufacturing plant for complete seat assembly. This new facility will represent the Group’s 10th manufacturing site in India and its first specifically for complete seat production. The move comes as the Indian automotive market demonstrates robust growth, with vehicle sales reaching a record 2.6 million units in the first half of 2026.
The upcoming plant, scheduled to begin production in 2027, will handle end-to-end manufacturing of complete seating systems, including structures, mechanisms, foam, covers and final assembly for both first- and second-row seats. The site will feature FORVIA’s proprietary Cover Carving Technology, a polyurethane-based innovation that optimises seat geometry to maximise rear cabin space and improve passenger comfort while enhancing surface finish quality.
India has emerged as a pivotal engineering hub for FORVIA, employing over 2,400 engineers and technical experts. The country’s teams are developing next-generation mobility technologies, including zonal controllers, smartphone-based vehicle access and radar-based rider assistance. FORVIA HELLA India has been established as a Global AI Center of Competence, focusing on artificial intelligence solutions for engineering and manufacturing applications.
The expansion is a core component of FORVIA’s IGNITE strategic plan, prioritising growth in high-potential regions. With the new facility, the Group will operate manufacturing sites across multiple locations, including Mehsana, Pune, Bengaluru, Chennai and Manesar. The Group has secured several programme awards with leading OEMs since the start of 2026, spanning Seating, Electronics and Clean Mobility.
The Group’s growth strategy is supported by strong local partnerships, notably the joint venture between FORVIA Clean Mobility and Anand Group, combining global expertise with local market knowledge. FORVIA India has filed 61 patent applications and been granted 30 patents, underscoring India’s strategic importance in FORVIA’s ambition to strengthen its position as a leading mobility technology partner for original equipment manufacturers.
Martin Fischer, CEO, FORVIA, said, "India is becoming one of the world's most dynamic automotive markets and a strategic pillar of FORVIA's growth trajectory. Beyond this new Seating investment, we continue to expand our industrial footprint, strengthen localisation, invest in advanced technologies and develop world-class engineering and AI capabilities across the country."
Sébastien Limousin, Executive Vice President, FORVIA Seating Business Group, said, "This new plant reinforces our positioning in India, a market expected to represent around EUR 4 billion by 2030 for automotive seating. It reflects our commitment to expanding complete seat system capabilities in India, with locally developed and manufactured solutions, and bringing advanced seating technologies to high-growth markets.”
BorgWarner Secures Chinese OEM Contract For Full-Size SUV Transfer Case
- By MT Bureau
- July 27, 2026
BorgWarner has secured a new contract to supply its torque-on-demand transfer case with mechanical lock (Mlock TOD) for a full-size SUV developed by a Chinese automaker. Production is scheduled to commence in the final quarter of 2026.
The growing full-size SUV segment increasingly demands vehicles adept at varied terrains, yet traditional part-time systems often require manual mode selection, hindering adaptability. The Mlock TOD addresses this by offering intelligent torque distribution and enhanced convenience, effectively bridging on-road and off-road requirements.
Built upon a proven design, the Mlock TOD integrates torque-on-demand and mechanical lock functions to boost performance and offer flexible solutions across platforms. Leveraging its deep expertise, local production and market insight, BorgWarner remains committed to delivering reliable, high-efficiency drivetrain systems.
Henk Vanthournout, Vice President of BorgWarner Inc. and President and General Manager, Drivetrain and Morse Systems, said, “We have built a 20-year relationship with this customer and we’re proud to continue supplying our AWD technology for their newest SUV. The Mlock TOD featured in this programme combines torque-on-demand four-wheel drive with mechanical lock modes, helping address a wide range of driving conditions while enhancing off-road capability, handling and safety. As a leader in four-wheel drive technology, BorgWarner will continue to leverage its proven product portfolio and technical expertise to deliver greater value to customers.”
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