US auto headlights manufacturer Varroc Lighting Systems has signed a joint venture agreement with ELBA, a privately-held lighting and electronics company based in Timisoara, Romania, according to a statement by the US company. Terms of the agreement were not disclosed.
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.
“Varroc already designs and develops all of its own electronics hardware and software, the addition of vertically integrating the manufacturing will further support our profitable growth,” said Varroc Lighting Systems President and CEO Stephane Vedie. “ELBA is recognized as a lighting specialist in the European market, and we are looking forward to a successful partnership with them.”
The partnership with ELBA is Varroc Lighting’s second electronics-focused initiative in recent months. In July, the company acquired Sa-ba Automotive, a Turkish-based manufacturer of small lighting and electronics products.
“The global lighting market is facing major changes, where electronics integration is key to address the actual and future needs of the final customer,” said Bogdan Cocian, CEO of ELBA. We are eager to start this new JV, in partnership with Varroc, to vertically integrate and optimize our supply of electronic components.”
Varroc Lighting Systems, a division of the Varroc group owned by Indian billionaire Tarang Jain, is one of the largest headlights suppliers for two- and four-wheel vehicles in the world. It is headquartered in Plymouth, Michigan and has over 7,200 employees in 17 countries.