Nokia and Novero said on Tuesday the transfer of Nokia’s line fit automotive business in Bochum and Dusseldorf, Germany, and Detroit to Novero has been completed.
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Novero is owned by Razvan Olosu, the former head of Nokia’s automotive business and enhancements unit, and Equity Partners, a German private equity firm.
Novero assumed full ownership of the line fit automotive business on 16 June and will continue to employ about 230 people.
Novero said it plans to strengthen the main operations of the line fit automotive business in Germany and the US.
