JBM Group acquires majority holding in German auto firm

Nidhi Jani
/ Categories: Trending, DSIJ News
JBM Group acquires majority holding in German auto firm

JBM Auto share spiked 8 per cent on the back of the announcement that the group company has acquired major shareholding in the Germany-based Linde-Wiemann.

The said acquisition would enhance synergies for the JBM Group with new products, global customers and new German technologies. This would help JBM Auto expand its footprints in the global market.

Linde-Wiemann is a leading manufacturer of complex structural components and assemblies to automotive OEM's worldwide. The company has 17 manufacturing plants across 8 countries.

During the recent quarter Q3FY19, JBM Auto posted 8 per cent yoy growth in its revenue. Also, the net profit jumped by 19 per cent on YoY basis. The company's Q3FY19 revenue mix comprised of Component division (84 per cent), Tool Room division (8 per cent) and OEM division (8 per cent).

JBM Auto manufactures key auto systems and high-level and safety critical assemblies for most auto OEMs in the country. The company has an end-to-end product portfolio ranging from passenger cars, 2-wheelers, 3-wheelers to commercial vehicles, farm and construction equipment.

On Monday, the stock of JBM Auto rises by 8 per cent and made an intraday high of Rs. 285 on the BSE. At 11:54 hours, the stock was trading at Rs. 268.55 per share on the BSE. The company had hit its 52-week high of Rs. 457.25 on April 2, 2018 and its 52-week low of Rs. 230 on February 14, 2019 on the BSE.

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