Auto component maker Varroc Group keen on global acquisitions
Varroc Group, a prominent auto component manufacturer from India is planning on becoming one of the top-three three suppliers worldwide of external lighting systems. To achieve this, the company is looking for acquisitions globally.
The group is already the sixth largest globally in external auto lightings. It supplies head and tail lamps and small lights to JLR, Ford, Tesla, Volkswagen, FCA, PSA and Renault Nissan and other American and European carmakers. It now wants to acquire Korean and Japanese customers.
Mr Srinivasan, the CFO of the company said in an interview to a news outlet that they want to be recognised as a global auto component player. It is good for them to be number one or number two in India but their ambition is more than that.
The Vaaroc group entered the lighting systems business when it acquired the lighting systems business of Visteon Group from Ford in 2012. It now has six factories in Mexico, Czech Republic, China and India, with two more factories under construction in Brazil and Morocco.
It is also in the final stage of acquiring a lighting systems company in Turkey.
The Group also includes Varroc Engineering Ltd. supplying auto components to two and three-wheeler companies like Bajaj Auto.
Source: The Hindu
Team OD | 14 Sep 2018
- NewsPiaggio launches updated Aprilia SR150, Vespa and mobile connectivity app
- NewsMercedes-Benz E-Class All-Terrain to be launched in India on September 28
- NewsJaguar Land Rover India now offering advanced connectivity features on Range Rover, Range Rover Sport and Discovery
- NewsVolvo Car India opens a boutique showroom in Noida
- News2018 TVS Ntorq 125 launched in Metallic Red paint option
- FeaturesImage gallery: OD SUV Slugfest
- News2019 BMW R 1250 GS and R 1250 RT with new larger boxer engine revealed
- NewsImage gallery: Audi e-tron electric SUV unveiled
- NewsLive Updates: Vespa and Aprilia to launch new products in India
- NewsMercedes-AMG A35 hot hatchback teased ahead of Paris Motor Show unveil