Varroc Engineering announced that its wholly owned subsidiary, Varroc Corp Holding B.V., The Netherlands has signed a joint venture agreement with ELBA SA, a privately-held lighting and electronics company based in Romania on 18 September 2018.
The joint venture will focus on electronics manufacturing and given the constantly increasing electronic content of lighting products - will significantly support Varroc Lighting's successful growth in Europe.
The joint venture will be located in Timisoara, Romania. As per the joint venture agreement, Varooc and Elba will hold 70% and 30% stake respectively.
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