JBM Group acquires majority stake in Germany's Linde-Wiemann
New Delhi: Auto component major JBM Group Monday said it has acquired majority stake in Germany's Linde-Wiemann GmbH KG, a manufacturer of complex structural components and assemblies supplying to global automobile manufacturers.
The acquisition is being done through one of the group's flagship companies, Neel Metal Products, and it will give access to global platforms and German technology inheritance to Indian operations, JBM said in a statement.
The company, however, did not disclose the value of the deal.
Linde-Wiemann (L+W), which has revenue of USD 700 million, has 17 plants in eight countries -- Germany, US, China, Spain, Turkey, Czech Republic, Hungary and South Africa, employing over 2,300 people.
JBM Group Executive Director Nishant Arya said, "This business activity is a strategic fit perfectly in sync with our existing scope of operations and solutions and will also further consolidate our global footprint."
He further said JBM is looking forward to leverage L+W's experience in Europe coupled with the group's expertise in the auto component domain.
The combination will focus on developing new products that contribute towards improving safety and performance of vehicles through light-weighting and minimising the time to market for original equipment manufacturers (OEMs), offering an integrated one-stop solution, Arya added.
Through the acquisition, JBM will also have access to L+W's strengths in domains such as electric vehicle components and systems, and battery structure and systems.
Linde-Wiemann CEO Ulrich Schoof said, through the new business model, L+W will be able to unlock substantial growth by the adaption of product competencies in the area of chassis and suspension.
"Furthermore, L+W will extend its holistic system understanding in the field of e-mobility through the exchange with JBM's electrical bus division," Schoof added.
Headquartered in Dillenburg, Germany, Linde-Wiemann specialises in areas such as hot forming, tubular assemblies and usage of alternate materials such as aluminium resulting in lighweighting in auto systems.
It supplies parts to global auto OEMs such as BMW, Volkswagen, Audi, Skoda, Porsche, Daimler, Ford and PSA.