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The Turkish Sa-ba Automotive company, which started a year ago to build a car lighting factory near Dimitrovgrad, has a new owner. The buyer is based in Plymouth, United States, Varroc Lighting Systems, which is part of the Indian group Varroc. With the agreement, the company acquired the production of Sa-ba in Turkey and Bulgaria. The price is not communicated
The transaction
The transaction information is published on the website of Varroc Lighting and the logo of the new owner is already on the Sa-Ba website. However, neither company responded to Capital's questions. According to the official announcement of the acquisition, Varroc Lighting is gaining a capacity of 10,000 m 2 of production and technology center near Istanbul, as well as 20,000 square meters in the factory near Dimitrovgrad, which is under construction and could be expanded "Turkey is a growing market and our presence there is helping to increase the services we provide to our growing customer base," said Stefan Vedy, President and CEO of Varroc Lighting, at the announcement. According to company data in Turkey, 1.7 million vehicles are produced each year. The transaction should support Varroc's ongoing projects and give it access to new clients.
Before Launch
The Turkish Sa-ba manufactures indoor and outdoor lighting for cars (headlights, stops, etc.) and among its customers are Audi, Ford, Seat, Skoda and D & 39. ;other. By the end of 2015, the company registered a Bulgarian company, Sa-ba Bulgaria, and bought 30 hectares of land near Dimitrovgrad, announcing that it was planning to invest 8 million BGN and 39 million. employ 150 people. The construction itself began last spring and was originally scheduled to be completed in the third quarter of 2017. However, there is no information yet indicating that production has begun. The company's report for last year does not show any activity but job offers are currently being posted on the job sites
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L & # 39; buyer Varroc Lighting produces fires for cars and two-wheeled vehicles. The company has factories in China, the Czech Republic, India, Mexico, Morocco, Turkey and Vietnam and is the second largest supplier of automotive components in India
Varroc Lighting's business turnover in 2017 is $ 1.1 billion and projections are expected to reach $ 2 billion by 2021 through organic growth and acquisitions. The Sa-ba purchase is the sixth commercial initiative since 16 months. According to the company's announcement, it is establishing a base for production and product development in Morocco and has recently opened new sites in Brazil, Japan and Poland. A light development center has been opened in Ostrava, Czech Republic, and production capacity in Vietnam has increased
