BERLIN (dpa-AFX) - Manufacturing company, Knorr-Bremse AG (KNRRY.PK), Tuesday announced that the company has sold its subsidiary, Kiepe Electric, to Berlin-based Heramba, to optimize its portfolio and align its business activities with core competencies and performance.
The transaction, which closed in January 2024, included the acquisition of all Kiepe Electric business activities along with its more than 550 employees, the company stated.
Currently, Knorr-Bremse's stock is sliding 0.03 percent, to $15.54 on the Other OTC.
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