Varroc Group looks to capitalise on growing electronics content for automotive lighting products and to supplement Varroc Lighting's growth in Europe.
22 Sep 2018 | 8734 Views | By Autocar Pro News Desk
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.