Varroc Engineering’s wholly owned subsidiary -- VarrocCorp 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 September 18.
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 terms of the Joint Venture Agreement, Varroc and Elba will contribute equity for the joint venture in the ratio of 70% and 30%, respectively.
Varroc Engineering is engaged in design, manufacture and supply of exterior lighting systems, plastic and polymer components and precision metallic components to passenger car, commercial vehicle, two-wheeler, three-wheeler and off-highway vehicle directly worldwide.
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