Varroc plans JV with Elba for new electronics plant in Romania
Varroc Group looks to capitalise on growing electronics content for automotive lighting products and to supplement Varroc Lighting's growth in Europe.
The Varroc Group's wholly owned subsidiary Varroc Holding of the Netherlands has signed a joint venture agreement of Elba, a privately owned lighting and electronics company in Romania.
Given the constantly increasing electronics content in automotive lighting products, the JV will will focus on electronics manufacturing, and will significantly support Varroc Lighting’s successful growth in Europe.
The JV will be located in Timisoara, Romania. As per the terms of the JV agreement, Varroc and Elba will contribute 70 percent and 30 percent respectively towards the JV.
RELATED ARTICLES
Skoda begins sale of made-in-India CKD Kushaq in Vietnam
Before production started, pre-series Kushaq vehicles covered over 330,000 kilometres on a variety of Vietnamese roads a...
Six Japanese companies join forces to expand use of recycled materials in new vehicles
Denso, Toray Industries, Nomura Research Institute, Honda Motor, Matec Inc and Rever Corporation have set up the BlueReb...
BYD selects Voestalpine as steel supplier for its Hungarian plant
The announcement of the Austrian steelmaker as a supplier demonstrates BYD’s strategic plan to source from high-quality,...