JBM Group acquires major shareholding in German Auto Major Linde-Wiemann
Deepthi | Myequity news | Date : 25-02-2019 10:55:00 IST
JBM Group, the $l.5bn conglomerate with business interest in auto systems & assemblies has acquired major shareholding in Germany based Linde-Wiemann GmbH KG, a leading manufacturer of complex structural components & assemblies to automotive OEM's worldwide. The acquisition brings to the foray a plethora of synergies for JBM Group in the form of new products, global customers, new German technologies that will not only help in expanding the global footprint of the homegrown conglomerate but will also aid in adding strategic value to its Indian operations, thereby increasing the Group's long-term competitiveness.
Linde-Wiemann, headquartered in Dillenburg, Germany, specializes in proprietary technologies in areas such as hot forming, tubular assemblies and usage of alternate materials such as aluminium resulting in lighweighting in auto systems. The company has a strong base of 17 manufacturing plants across 8 countries Le. Germany, US, China, Spain, Turkey, Czech Republic, Hungary and South Africa with an employee strength over 2300 plus. L+W brings in an experience of over 70 years serving global auto OEMs such as BMW, Volkswagen, Audi, Skoda, Porsche, Daimler, Ford, PSA, etc. JBM will also have access to L+W's strengths in domains such as Electric Vehicle components & systems and battery structure & systems.
Speaking on the acquisitlon, Mr. Nishant Arya, Executive Director, JBM Group said, "This business activity is a strategic fit perfectly in sync with our existing scope of operations & solutions and will also further consolidate our global footprint. Both entities together will bring forward impeccable combination of frugal engineering &world class technology. We are looking forward to leveraging L+W's experience in Europe coupled with our expertise in the auto component domain. JBM and L+W will together focus on developing new products that contribute towards improving the safety and performance of vehicles through light-weighting, thereby increasing the product quality and minimizing the time to market for OEMs, making it an integrated one-stop solution".
Mr. Ulrich School Chief Executive Officer, LlNDE + WIEMANN
, on the partnership: "JBM is a highly complementary partner for us with respect to customers and technologies as part of the global automotive market. The use of joint potentials is an essential motivation for the new partnership. Through the new business model, L1NDE+ WIEMANN will be able to unlock substantial growth by the adaption of product competencies in the area of chassis and suspension. Furthermore, L1NDE+ 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 IClCI Bank Limited. About JBM Group
JBM Group is a global Indian conglomerate with over 3 decades of excellence in driving product innovation & value across automotive, buses & electric vehicles, renewable energy, engineering & design services and railways sectors. With modest beginnings in the early 80s, JBM has leapfrogged multi-fold with an infrastructure of 40 manufacturing plants, 4 engineering & design centres across 18 locations globally today. With a $1.5 billion turnover, JBM Group has broadened its horizons by focusing on a quality-delivery, solutions approach, product development processes, flexible manufacturing systems and contract manufacturing.