Plastic Omnium to acquire lighting supplier Varroc

Plastic Omnium has agreed to buy the European and North American lighting units of Varroc Engineering, a Tier 1 Indian supplier, for 600 million euros ($634 million).
 
The French supplier will create a new lighting business unit with expected revenue of 1 billion euros, including sales from Osram Automotive Lighting Systems.
 
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.