Knorr-Bremse sells majority stake in Kiepe Electric
By Luke Willetts - 16th February 2024
Kiepe Electric
Germany – Commercial vehicle brake and components manufacturer, Knorr-Bremse AG, based in Munich, Germany, has announced that it has sold a majority stake in Kiepe Electric GmbH* of Düsseldorf, North Rhine-Westphalia, Germany, a specialist in electric traction equipment, to Heramba GmbH (of Heramba Holdings Inc). Knorr-Bremse will retain 15% equity in the company, and has committed to remaining a strategic partner. Heramba will take over all business activities and employees (500 +). Ultimately, the sale falls under Knorr-Bremse’s Boost programme, “a strategic initiative aimed at fostering sustainable and profitable growth through various strategic actions.” One of those actions is streamlining business operations by concentrating on core competencies.
Frank Markus Weber, the Chief Financial Officer at Knorr-Bremse AG, said:
