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."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app