{"id":39056,"date":"2022-04-29T13:31:39","date_gmt":"2022-04-29T08:01:39","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-varroc-engineering\/"},"modified":"2022-04-29T13:31:39","modified_gmt":"2022-04-29T08:01:39","slug":"biz-varroc-engineering","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-varroc-engineering\/","title":{"rendered":"Varroc Engineering sells 4-wheeler lighting systems operations in US, Europe for 600 mn euros"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-242605871\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Apr 29 (PTI) Auto components maker Varroc Engineering Ltd (VEL) on Friday said it is selling its four-wheeler lighting systems operations in the Americas and Europe to France&#8217;s Compagnie Plastic Omnium SE for 600 million euros (over Rs 4,830 crore).<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1465111895\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The divestment is part of VEL&#8217;s strategy to align its resources with the high value and high growth primary markets in China, India, and the two-wheeler sector globally, the company said in a statement.<\/p>\n<p> VEL has signed a securities purchase agreement (SPA) with Compagnie Plastic Omnium SE of France for the purpose.<\/p>\n<p> &#8220;The Euro 600 million transaction will see Varroc divesting its lighting system operations in the USA, Brazil, Mexico, Poland, Czech Republic, Germany, Turkey, and Morocco,&#8221; it said.<\/p><div class=\"trade-content_5\" id=\"trade-343662016\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The company, however, said it is retaining its four-wheeler lighting operations in Asia.<\/p>\n<p> &#8220;Varroc will also continue to operate its China JV and other international two-wheeler businesses in countries like Italy and Vietnam and global electronics businesses in Poland and Romania,&#8221; the statement said.<\/p>\n<p> &#8220;Our immediate goal is to be future-ready with continued profitable growth in emerging sectors like the EV and high technology electronics. The divestment of our passenger car lighting operations in the Americas and Europe will be a win-win deal for Varroc and Plastic Omnium,&#8221; VEL Chairman &#038; Managing Director Tarang Jain said.<\/p>\n<p> He further said, &#8220;for us, we unlock great value for all our shareholders, employees, and business partners as we plan for our next level of growth in the fastest-growing economies and auto sectors in the world. We will also continue to invest in our teams and people as we embark on the next phase of our growth.&#8221; \t The planned divestment of Varroc&#8217;s 4-wheeler lighting systems businesses in the Americas and Europe will ensure enhanced shareholders&#8217; value, sustainable growth, and further development of its R&#038;D facilities and engineering capabilities, the company said.<\/p>\n<p> &#8220;Varroc Lighting Systems is a strategic addition to our business that will provide us with an extensive lighting product portfolio, a balanced footprint across best-cost countries and cross-selling opportunities. Building on our operational excellence, financial strength, and long-term vision we have identified clear levers to bring VLS to best-in-class operating performance,&#8221; Plastic Omnium CEO Laurent Favre said.<\/p>\n<p> Varroc said its lighting systems and other businesses in India, namely design, manufacture, and supply of a diverse range of polymer, electrical-electronics and metallic components will continue to enjoy a leadership position in these business segments. PTI RKL  DRR<\/p><div class=\"trade-content-10\" id=\"trade-2046536297\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<div class=\"trade-after-content\" id=\"trade-1499877413\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Apr 29 (PTI) Auto components maker Varroc Engineering Ltd (VEL) on Friday said it is selling its four-wheeler lighting systems operations in the Americas and Europe to France&#8217;s Compagnie Plastic Omnium SE for 600 million euros (over Rs 4,830 crore). The divestment is part of VEL&#8217;s strategy to align its resources with the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-39056","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Varroc Engineering sells 4-wheeler lighting systems operations in US, Europe for 600 mn euros - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-varroc-engineering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Varroc Engineering sells 4-wheeler lighting systems operations in US, Europe for 600 mn euros\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Apr 29 (PTI) Auto components maker Varroc Engineering Ltd (VEL) on Friday said it is selling its four-wheeler lighting systems operations in the Americas and Europe to France&#8217;s Compagnie Plastic Omnium SE for 600 million euros (over Rs 4,830 crore). 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