Plastic Omnium agrees to acquire units of lighting supplier Varroc for $634 million

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 sales from Osram Automotive Lighting Systems, which it bought last year for $69 million.
 
Plastic Omnium had also sought to acquire the German lighting supplier Hella, its partner on front-end modules, but lost out to French rival Faurecia.
 
Varroc Engineering, based in Aurangabad, India, will retain its four-wheeler lighting operations in Asia and said it will continue to operate its China joint venture and its other businesses in countries such as Italy, Vietnam, Poland and Romania.