Exterior vehicle lighting specialist U.S.-based Varroc Lighting Sytems has acquired Istanbul-based Sa-ba Automotive, a statement confirmed Monday. "Through Sa-ba Automotive, Varroc Lighting gains valuable manufacturing and production capacity with a 10,000-square-meter manufacturing and technology center near Istanbul, and a new plant under construction in Dimitrovgrad, Bulgaria," the statement said. The terms and conditions of the acquisition, however, were not disclosed. It also noted that the 20,000-square-meter Bulgaria plant will give Varroc Lighting expanded and scalable production capacity for its European customers.
"This acquisition further underscores our commitment to a global footprint that provides our customers with cost-effective and high-quality lighting products and technology," said Stephane Vedie, president and CEO of Varroc Lighting Systems.
"Turkey is a growing market, and our presence there helps us expand the services we can provide to our growing customer base, while substantially increasing our capabilities in small lighting."
In the statement, Varroc Lighting said that the acquisition was the sixth business initiative in the past 16 months that directly support the expansion of its global product portfolio and manufacturing and engineering footprint.
It also noted its manufacturing and product development facilities based in Morocco, Brazil, Japan, and Poland. It recently opened an expanded Lighting Development Center in Ostrava, Czech Republic while expanding manufacturing capabilities in Vietnam.
With the acquisition of the Istanbul-based company, Varroc Lighting now has a global presence in 17 countries across five continents. (Daily Sabah)
Latest from Admin TOA
- Aziz Sancar's New Turkish Community Center Aims to Bring Turkish Culture to America
- Chobani CEO Hamdi Ulukaya Considers Going Public
- Dr. Oz Recounts His Visits to Syrian Refugee Camps
- Turkey Cuts Investment Criteria for Foreigners Seeking Citizenship
- Dream Chaser Space Plane Set to Land as Matchbox Sky Busters Toy