HELLA reaches settlement with EU-Commission

Lippstadt, June 21, 2017. HELLA has reached a settlement with the EU-Commission regarding investigation in the field of “OES after EoP” focusing on the year 2007. To close the since 2012 ongoing proceedings and thus gain legal and planning certainty, HELLA has agreed to pay a fine of approximately 10,4 million Euro in connection with the settlement.

The observance of laws and internal rules in order to avert any compliance breaches has always been a top priority at HELLA. Against the background of the investigation of the EU-Commission the company additionally reinforced the awareness of its employees around the world in the past years to avoid possible individual misconduct even more effective.

The fine had already been anticipated in the provision of 16 million Euro in conjunction with the proceedings. Therefore, the settlement will have no impact on HELLA’s forecast for its business performance in the current fiscal year (June 1, 2017, to May 31, 2018).