Varroc Explained

Varroc Group
Type:Public
Foundation:1990
Founder:Tarang Jain (86% owner)
Location:Aurangabad, Maharashtra
Industry:Automotive components

Varroc is an Indian multinational automotive component manufacturer and supplier of exterior lighting systems, powertrains, electrical and electronics, body and chassis parts to passenger car and motorcycle segments. The company was founded by Tarang Jain in 1990 and is currently headquartered at Aurangabad in Maharashtra, with 35 manufacturing facilities and 11 engineering centres in 10 countries across three continents.[1] [2]

History

Varroc was established by Tarang Jain in 1990, in Aurangabad, India with the commencement of the company's polymer division. Between 1992 and 1998, the company focused on product diversification and capacity expansion and started its electrical and metallic division. Varroc started more polymer manufacturing facilities in 1997 in Pune and Aurangabad.[3]

In 2001, Varroc expanded its development capabilities by collaborating with Mitsuba Corporation, a Japanese manufacturer of automobile parts.[4] The company collaborated with Brussels based materials technology company, Umicore, in 2005 and started production of automotive catalytic converter.

Between 2007 and 2010, Varroc acquired IMES, Poland and Italy to strengthen forging business in European markets, off-road and oil drilling industry. The company also invested in manufacturing capability for polymers in National Capital Region to cater to OEMs in North India.[5]

In 2011, Varroc acquired European two wheelers lighting organization Tri.O.M. S.p.A. including its R&D center. In 2012, Varroc's turnover crossed the US$1 billion mark with the acquisition of Visteon's Lighting Business along with its two R&D centers.[6] [7] [8]

Varroc established its eighth polymer plant in Pithampur, Indore, in 2012, which caters to Volvo, Eicher and Mahindra Two Wheelers.[9] Another polymer plant was established in Bengaluru that caters to HMSI and passenger car segment.[10] The company also invested in design and set up of the 10th polymer plant at Chennai to supply Yamaha Motor Company.

In 2015, Varroc partnered with UK Based manufacturer and supplier Scorpion Automotive Ltd to provide security-based products for two-wheelers.[11] [12]

Operations

The company has five business verticals under its umbrella:

Varroc Lighting Systems

Varroc Lighting Systems (VLS), headquartered out of Plymouth, Michigan, is a supplier of exterior lighting for passenger cars and commercial vehicles. The division has six manufacturing plants across North American, European, and Asian countries and six Engineering centers in the Czech Republic, France, China, Germany, Poland, Mexico, Romania and India.[13]

Triom Lighting

Triom Two-Wheeler Lighting, the lighting system arm of Varroc for the two-wheeler industry, develops electronics and lighting solutions for the automotive market in India and Europe. The division produces high quality two-wheeler lighting systems. It has four manufacturing plants – two in Europe, one in Vietnam, and one in Mexico – as well as an engineering center in Italy.[7]

Electrical

Varroc's Electrical division offers complete solutions in electrical components and assemblies for the two, three, four wheeler, off-road as well as commercial vehicles segments. The division has five manufacturing facilities located in the states of Maharashtra and Uttarakhand.[14] Tier 1 auto component manufacturer which supplies to leading OEMs both in India and overseas, has clarified its position on the patent violation allegations levelled by Flash Electronics India against Royal Enfield in the US regarding production of a key component for two-wheelers/motorcycles.[15]

Polymer

Varroc polymer provides solutions to the automotive segments. The division produces a wide range of injection and compression moulded automotive and allied rubber components. Varroc is the largest polymer solution provider to the two-wheeler industry in India.[9]

Awards and accolades

2016

2015

2013

Notes and References

  1. http://www.autocarpro.in/news-national/varroc-emerging-manufacturer-citation-maharashtra-chief-minister-20122 Varroc gets emerging manufacturing giant citation from Maharashtra chief minister
  2. https://www.bloomberg.com/Research/stocks/private/snapshot.asp?privcapId=23378507 Company Overview of Varroc Engineering Pvt. Ltd.
  3. http://www.automotiveproductsfinder.com/News/Varroc-sets-up-plastic-injection-moulding-plant/93502 Varroc sets up plastic injection moulding plant
  4. http://articles.economictimes.indiatimes.com/2003-08-23/news/27554080_1_south-india-corporation-agencies-joint-venture-equity-stake Japan's Mitsuba to raise Sical India stake to 95%
  5. http://articles.economictimes.indiatimes.com/2007-02-04/news/28384786_1_manufacturing-varroc-group-acquisition Varroc acquires Imes
  6. http://www.autocarpro.in/news-national/varroc-track-touch-rs-crore-turnover-806 Varroc on track to touch Rs 4,000 crore turnover
  7. http://www.plasticsnewseurope.com/article/20140401/PNE/304019983/varroc-acquires-80-of-italys-triom Varroc acquires 80% of Italy's Triom
  8. http://www.motorindiaonline.in/aftermarket/varroc-group-system-supplier-bets-big-on-technology-diverse-product-portfolio-and-global-customer-base/ VARROC GROUP – System supplier bets big on technology, diverse product portfolio and global customer base
  9. http://www.autocarpro.in/news-national/varroc-polymers-inaugurates-eighth-polymer-plant-pithampur-2038 Focus on increasing plastics business
  10. http://www.plastemart.com/plastic-facts-information.asp?news_id=22836&news=Varroc-Polymers-inaugurates-eighth-polymer-plant-at-Pithampur-in-Madhya-Pradesh Varroc Polymers has inaugurated its eighth polymer plant at Pithampur in Madhya Pradesh
  11. http://www.thehindubusinessline.com/companies/varroc-inks-pact-with-ukbased-scorpion-auto/article6805205.ece Varroc inks pact with UK-based Scorpion Auto
  12. http://www.business-standard.com/article/companies/varroc-partners-with-uks-scorpion-automotive-for-2-wheeler-security-systems-115012000786_1.html Varroc, UK's Scorpion team up for two-wheeler security systems
  13. http://articles.economictimes.indiatimes.com/2012-08-08/news/33100985_1_varroc-group-tarang-jain-presence-in-two-wheeler Varroc Engineering acquires Visteon Corporation’s global lighting business for $72 million
  14. http://www.business-standard.com/article/companies/varroc-s-catalyst-plant-goes-on-stream-106022001030_1.html Varroc's catalyst plant goes on stream
  15. Web site: Varroc Engineering : Varroc Engineering refutes patent violation allegations from Flash Electronics, Auto News. autocarpro.in.
  16. http://overdrive.in/news/varroc-group-cited-as-emerging-manufacturing-giant-from-maharashtra/ Varroc Group cited as emerging manufacturing giant from Maharashtra
  17. Web site: Components, Latest Components News, Auto News - ET Auto . auto.economictimes.indiatimes.com . 29 October 2016.
  18. http://ibtn9.com/2016/04/varroc-wins-environmental-youth-of-the-year-2016/ Varroc Wins Environmental Youth of the Year 2016
  19. http://newsletters.cii.in/Quality-Newsletter/april_13/Quality%20News.pdf 20th Kaizen Conference & Competition
  20. http://www.indiainfoline.com/article/print/news-business/danfoss-india-awards-and-recognises-top-performing-suppliers-on-annual-supplier-day-in-india-115012200392_1.html Danfoss India awards and recognises top performing suppliers on Annual Supplier Day in India
  21. http://www.forbesindia.com/article/leaderhip-awards-2013/tarang-jain-taking-risks-to-derisk-varroc/36383/1 Award: Next Generation Entrepreneur Tarang Jain

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