Varroc acquires Imes SpA of italy
The buyout will further its objective of providing better customer service to its clients in Europe.
Imes has manufacturing units in Italy and Poland, with large unused capacities in Poland. The acquisition has been financed by a combination of internal accrual and deb. The Varroc group has embarked on an aggressive expansion plan in the areas of engine valves and forged components, primarily intended for the European automotive market.
The buyout will further its objective of providing better customer service to its clients in Europe. This will be achieved by increasing capacity and product diversity as well as shortening the length of the supply chain to its clients.
The acquisition is thus in line with Varroc’s two-pronged strategy of organic growth in domestic and overseas markets, as well as acquisitive growth in areas of core competence. The company has a significant presence in quality automotive components and parts for 2, 3 and 4 wheelers in domestic and overseas markets. It has 17 manufacturing facilities across western and northern India.
RELATED ARTICLES
Royal Enfield offers Rentals and Tours service in 25 countries
The RE Rentals and Tours service covers everything from motorcycle rentals and professionally guided tours to assistance...
Charging network operators, energy companies partner to create UPI-like network for EV charging
The Alliance includes member companies like ChargeZone, Pulse Energy, Kazam, Sheru, Trinity, Turbo, etc.
InnerCircle: 'Consumers are willing to wait for innovative EV products; tech suppliers must lower entry barriers', says Nilesh Bajaj, CEO at Vayve Mobility
The company says the waitlist for its maiden two-seater electric car, Vayve Eva, clearly determines its potential demand...