Elba Timisoara, one of the biggest producer of lighting systems in Romania, which supplies headlights for car makers such as Dacia-Renault and Skoda, has signed a joint venture agreement with U.S. headlight supplier Varroc Lighting Systems.

The joint venture will focus on electronics manufacturing and support Varroc Lighting’s growth in Europe. It will be located in Timisoara, in Western Romania, where Elba is based. Terms of the agreement were not disclosed.

“Varroc already designs and develops all of its own electronics hardware and software, the addition of vertically integrating the manufacturing will further support our profitable growth,” said Varroc Lighting Systems President and CEO Stephane Vedie.

“ELBA is recognized as a lighting specialist in the European market, and we are looking forward to a successful partnership with them.”

Varroc Lighting Systems is part of Varroc Group, owned by Indian billionaire Tarang Jain.

Elba Timisoara had a turnover of close to EUR 55 million and a net profit of EUR 3.9 million in 2017. The company has over 1,000 employees.

editor@romania-insider.com