Varroc Group

Plastic Omnium is acquiring auto lighting units from Varroc for $634 million.

Varroc has inaugurated a new factory in Tanger Automotive City, Morocco, dedicated to producing headlights and taillights. The plant will create 650 jobs by 2024 with an initial investment of EUR 45 million.

Varroc Group is setting up a manufacturing plant in Halol, Gujarat at a cost of Rs 35-40 crore to serve the lighting needs of Hero MotoCorp from September 2018.

Varroc Group is setting up two new manufacturing plants in Brazil and Morocco at a total cost of EUR 63 million (about Rs 504 crore) to support Volkswagen and Renault-Nissan. The plants are expected to generate EUR 100 million in revenue within 3-4 years.

Varroc Group signed a binding agreement to acquire a lighting equipment company in Turkey for EUR 42 million (about Rs 336 crore). The target generates annual turnover of EUR 50 million.