Aurangabad-based, Varroc Group a supplier of auto components today stated that it has bought the global lighting business of US-based Visteon Corporation including six manufacturing plants in India and abroad.
Visteon separately disclosed that it sold the lighting business to Varroc for $92 million (about Rs 459 crore). This has been done to concentrate on making climate-control and electronics products for vehicle manufacturers and on its joint ventures, said the US-based company.
The acquisition will make Varroc the largest automotive lighting manufacturer in India. The company is hoping to close the deal by the third quarter of this year. The sale is subject to regulatory reviews and other conditions.
The operations being sold make front and rear lighting systems, auxiliary lamps and sub-components such as projectors and electronic modules. The business has operations in Europe, North America and Asia. Plants involved in the sale include those in Novy Jicin and Rychvald, Czech Republic; Monterrey, Mexico and Pune, India.
Ford Motor Company, General Motors, Volkswagen, PSA, Jaguar Land Rover are some of the customers of Visteon. Varroc is a privately owned supplier of components for two, three and four-wheel passenger and commercial vehicles.
