JBM Group acquires major shareholding in German Auto Major Linde-Wiemann

JBM Group acquires major shareholding in German Auto Major Linde-Wiemann

Agency News

New Delhi, Feb 25 : JBM Group, the 1.5 billion dollars conglomerate with business interest in auto systems and assemblies on Monday announced that it has acquired major shareholding in Germany based Linde-Wiemann GmbH KG, a leading manufacturer of complex structural components and 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, the JBM Group said in a statement.

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 light weighting in auto systems.

Speaking on the acquisition, Mr Nishant Arya, Executive Director, JBM Group said, ''This business activity is a strategic fit perfectly in sync with our existing scope of operations and solutions and will also further consolidate our global footprint. Both entities together will bring forward an impeccable combination of frugal engineering and world class technology. (UNI)