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Varroc Engineering (VEL) hit an upper circuit limit of 20% at Rs 494.60 after the company said it will divest its 4-wheeler lighting system operations in the Americas and Europe for 600 million euros.
PARIS -- Plastic Omnium has agreed to buy the European and North American automotive lighting units of Varroc Engineering for 600 million euros ($634 million). The French supplier said Friday that it will create a new lighting business unit with expected revenue of $1.1 billion, including…
The French auto supplier will build out its exterior auto body panels offerings by buying Varroc's European and North American lighting units.
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