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JBM Group acquires majority stake in Germany's Linde-Wiemann

The financing of the entire transaction has been done by ICICI Bank

Megha Manchanda  |  New Delhi 

Alongside the automotive-technology spending, Volkswagen plans a five-year, ^72-billion budget for investment on property, plant and equipment. Photo: Reuters
Representative Image | Photo: Reuters

JBM Group, with business interests in auto systems and assemblies, on Monday said it had partially acquired Germany’s GmbH KG, a manufacturer of complex structural components and assemblies supplying to global

It is learnt that the will become a majority shareholder in with 60 per cent stake. The acquisition will bring new products, global customers, new German technologies for that will not only help in expanding the global footprints for the home-grown conglomerate but will also aid in adding strategic value to its Indian operations, thereby increasing the Group’s long-term competitiveness, said. specialises in niche areas of auto systems, including usage of alternative materials such as aluminium resulting in lightweighting in auto systems. The company has 17 manufacturing plants across eight countries — Germany, the US, China, Spain, Turkey, Czech Republic, Hungary and South Africa — with an employee strength over 2,300.

The company has also serviced clients such as BMW, Volkswagen, Audi, Skoda, Porsche, Daimler, Ford. JBM will also have access to Linde-Wiemann strengths in domains such as electric vehicle components and systems and battery structure and systems.

Nishant Arya, executive director, JBM Group, said, “JBM and Linde-Wiemann will focus on developing new products that contribute towards improving the safety and performance of through lightweighting, thereby increasing the product quality and minimising time to market.”

Ulrich Schoof, chief executive officer, Linde-Wiemann, said, “The use of joint potentials is an essential motivation for the new partnership. Linde-Wiemann will extend its holistic system understanding in the field of e-mobility through the exchange with JBM’s electrical bus division.”

The financing of the entire transaction has been done by JBM manufactures auto systems and safety-critical assemblies for almost all auto original equipment manufacturers. It has an end to end product portfolio ranging from passenger vehicles, two-wheelers, three-wheelers to commercial vehicles, farm and construction equipment.

First Published: Mon, February 25 2019. 21:26 IST