PLYMOUTH, Mich. (PRWEB)
December 16, 2020
Varroc Lighting Systems has announced the acquisition of the 30 percent stake of Elba in Varroc-Elba Electronics (VEE) joint venture. The full consolidation of VEE within Varroc Lighting Systems demonstrates the company’s commitment to grow its electronic business as a key part of their strategy.
“Varroc already designs and develops all of its own electronics hardware and software,” said Stephane Vedie, president and chief executive officer of Varroc Lighting Systems. “The full acquisition of our joint venture and the expansion of our manufacturing capacity will further support our profitable growth.”
This acquisition is the most recent expansion of Varroc Lighting Systems’ electronics business unit, which was established in 2018. The company has taken significant strides to grow their electronics capabilities in recent years, as they believe producing their own electronics will enhance their status as an automotive lighting leader in the future.
ABOUT VARROC LIGHTING SYSTEMS
Varroc Lighting Systems is a premier developer and manufacturer of next-generation external lighting systems and vehicle control electronics for the automotive and two-wheeler industries. Focused on safety, mobility, and style, Varroc Lighting Systems brings leading-edge technology to the mainstream automotive market with high-quality and cost-competitive solutions. Headquartered in Plymouth, Michigan, U.S., the company has more than 9,500 employees worldwide with operations in 17 countries and capabilities on every continent where vehicles are produced. Varroc Lighting Systems is a key member of the Varroc Group family of automotive components businesses. Visit http://www.varroclighting.com for more information.
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