Auto components major JBM Group on Monday said it had acquired majority shareholding in Germany-based Linde-Wiemann GmbH KG — a manufacturer of complex structural components and assemblies to automakers globally.
While the company said this was the biggest business transaction in the history of the JBM Group, financial details of the deal were not disclosed. However, it added that the group’s turnover is expected to leapfrog to $2.2 billion.
Linde-Wiemann, with revenues of $700 million and 2,300 employees, has base of 17 manufacturing plants across eight countries, including Germany, U.S., China, Spain, Turkey, the Czech Republic, Hungary and South Africa.
The acquisition is being done through the the group’s flagship company, Neel Metal Products.
Linde-Wiemann specialises in proprietary technologies in areas such as hot forming, tubular assemblies and usage of alternate materials such as aluminium resulting in lighweighting in auto systems. “JBM will also have access to L+W’s strengths in domains such as Electric Vehicle components & systems and battery structure & systems,” the company statement added.
Nishant Arya, Executive Director, JBM Group, said: “…We are looking forward to leveraging L+W’s experience in Europe coupled with our expertise in the auto component domain. JBM and L+W will together focus on developing new products that contribute towards improving the safety and performance of vehicles through light-weighting, thereby increasing the product quality and minimizing the time to market for OEMs, making it an integrated one-stop solution”.