Varroc Engineering Subsidiary Forms JV With Romanian Company
VarrocCorp Holdings B.V., The Netherlands, a wholly owned subsidiary of Varroc Engineering Limited has signed a joint venture (JV) agreement with ELBA SA, a privately-held lighting and electronics company based in Romania.
The joint venture will focus on electronics manufacturing, and - given the constantly increasing electronic content of lighting products - will significantly support Varroc Lighting's successful growth in Europe. The Joint venture will be located in Timisoara, Romania. As per the terms of the Joint Venture Agreement, Varroc and Elba will contribute equity for the joint venture in the ratio of 70% and 30% respectively.