Visteon’s lighting unit sold to Indian firm

INDIA-based automotive lights maker Varroc Engineering has completed the acquisition of the global lighting business of US-based firm Visteon for US$72 million. A new company, Varroc Lighting Systems (VLS), will be formed and will comprise Visteon’s 4,200-workforce (including 400 engineers), manufacturing operations in Mexico, Czech Republic and India, besides the engineering centres and associated units in Europe, the US and India.

The acquisition is expected to make Varroc the largest automotive lighting manufacturer in India and the only lighting technology supplier there. The business had a revenue of US$531 million in 2011 and is expected to cross the US$1 billion mark by the end of 2013. It encompasses a wide range of exterior lighting products including front and rear lighting systems, auxiliary lamps and key sub-components such as projectors and electronic modules. In line with another announcement earlier this year, the two companies also have an agreement for Varroc to acquire Visteon’s equity interest in a Chinabased lighting joint venture with Taiwanese partner TYC Brother Industrial for US$20 million. (IMA)

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