Rába signs important car components deal

Hungarian automotive group Rába has concluded an agreement with Germany’s Kirchhoff Group, according to which the Hungarian company will supply components for western European passenger cars, generating annual sales revenues of HUF 500 million (EUR 1.66 million).

As the financial website portfolio.hu reports, under the deal signed with Kirchhoff Group, which carries a ‘strategic significance’ for Rába, the Hungarian company will supply 600,000 pieces of pressed components for western European passenger cars.

The new contract generates annual sales of HUF 500 million (EUR 1.66 million) for the company’s Components Business Unit based in Mór, Hungary, Rába said in a statement on the website of the Budapest Stock Exchange (BSE) this Monday.  The parties outlined the details of the co-operation in a long term agreement signed for five years.