Auto component major JBM Group Monday said it has acquired majority stake in Germany's Linde-Wiemann GmbH KG, a manufacturer of complex structural components and assemblies supplying to global automobile manufacturers.
The acquisition is being done through one of the group's flagship companies, Neel Metal Products, and it will give access to global platforms and German technology inheritance to Indian operations, JBM said in a statement.
The company, however, did not disclose the value of the deal.
Linde-Wiemann (L+W), which has revenue of USD 700 million, has 17 plants in eight countries -- Germany, US, China, Spain, Turkey, Czech Republic, Hungary and South Africa, employing over 2,300 people.
JBM Group Executive Director Nishant Arya said, "This business activity is a strategic fit perfectly in sync with our existing scope of operations and solutions and will also further consolidate our global footprint."
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