JBM Auto acquired Germany based Linde-Wiemann and saw its shares rising by over 5 percent. Nishant Arya, ED of JBM Group spoke briefly about the deal and synergies going forward.
Arya said, "Linde-Wiemann has 70 manufacturing plants across 8 countries. It has a very substantial customer base and a very good product portfolio catering to customers like BMW, Skoda, Audi, Porsche, Daimler, Ford and various others."
He further added, "The products undergo through good technology and alternate material know how like aluminium, hot forming and hot stamping to create a good synergy with respect to electric vehicle systems. JBM Auto is also working on newer technology to manufacture structures for which they are catering to multiple companies globally."
“Therefore, with all these technologies and know how, it will benefit JBM Auto in the long-term,” Arya further added.
According to him, JBM Auto would have good export potential with this acquisition, and expects great synergies in the electric vehicle systems.
Linde-Wiemann is a profit making company generating margins of around 5-10%.