(CercleFinance.com) – Plastic Omnium announces that it has finalized with Varroc Engineering Limited the acquisition of its automotive lighting business, Varroc Lighting Systems (VLS), for an enterprise value of 520 million euros, revised downwards of 80 million euros to take into account a deteriorated market environment.
Varroc Lighting Systems (VLS), a tier-one supplier of automotive lighting systems, achieved sales of around €0.8 billion in 2021.
‘ With this acquisition, Plastic Omnium becomes a leading player across the entire lighting value chain thanks to a wide range of products, from components to complete headlights, and a balanced geographical presence in the cost-competitive countries,” said Laurent Favre, CEO of Plastic Omnium.
‘Plastic Omnium can now offer a unique and differentiating solution thanks to the synergies between lighting and our bumper and front module activities’, he concluded.
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