Komax Group Expands Its Footprint in China with Strategic Acquisition

Komax Group has announced the acquisition of a 56% stake in Hosver, a leading Chinese manufacturer of processing machinery for high-voltage cables required in electric vehicles. This move, expected to finalize in the second quarter of 2024, marks a significant step towards reinforcing Komax’s market position in China within the rapidly growing e-mobility sector. Hosver, established in 2014 and based in Suzhou, employs around 150 staff and is recognized as a market leader, serving top companies in e-mobility, including both local and global wire harness manufacturers and Chinese vehicle makers.

CEO of Komax Group, Matijas Meyer, expressed confidence in this acquisition aligning with their Strategy 2028, aimed at enhancing their presence in the e-mobility market. With Hosver's deep engineering expertise and market leadership, Komax aims to swiftly adapt to the evolving demands of the Chinese e-mobility landscape. The transaction also includes an option for Komax to fully acquire Hosver in the future, further expanding their capabilities and market reach in China.