BAVARIA INDUSTRIES GROUP AG 
By
Tuesday, 04.09.2012 -
Specializing in vehicle lamps, the production location will continue manufacturing for Philips while developing new products in the area of specialized lamps.
The transfer of ownership, along with the entire 310 employees and 40 apprentices, took place on September 1, 2012. Formerly known as Narva Speziallampen GmbH, the operation will now do business as vosla GmbH. All provisions of the collective bargaining agreements previously concluded by Narva will continue in effect. Parallel to the acquisition agreement, a supply agreement has been concluded with Philips for an initial term of five years; this will guarantee the plant a minimum operating margin. Under the leadership of Mr. Gerhard Liebscher, the
management of vosla GmbH plans to expand the company's direct business, which currently accounts for about 20% of turnover. Reimar Scholz, Executive Board Chairman of BAVARIA Industriekapital AG, commented on the deal: "This long-term vendor relationship will ensure that the plant can operate with at least a minimum level of capacity; on the other hand, its commercial future will depend on expanding the volume of direct business. In all of our preliminary discussions, we were impressed by the technical expertise of the company, the initiative of its management and the motivation of its work force; these factors were what ultimately convinced us to purchase the company."
Specializing in vehicle lamps, the production location will continue manufacturing for Philips while developing new products in the area of specialized lamps.
The transfer of ownership, along with the entire 310 employees and 40 apprentices, took place on September 1, 2012. Formerly known as Narva Speziallampen GmbH, the operation will now do business as vosla GmbH. All provisions of the collective bargaining agreements previously concluded by Narva will continue in effect. Parallel to the acquisition agreement, a supply agreement has been concluded with Philips for an initial term of five years; this will guarantee the plant a minimum operating margin. Under the leadership of Mr. Gerhard Liebscher, the
management of vosla GmbH plans to expand the company's direct business, which currently accounts for about 20% of turnover. Reimar Scholz, Executive Board Chairman of BAVARIA Industriekapital AG, commented on the deal: "This long-term vendor relationship will ensure that the plant can operate with at least a minimum level of capacity; on the other hand, its commercial future will depend on expanding the volume of direct business. In all of our preliminary discussions, we were impressed by the technical expertise of the company, the initiative of its management and the motivation of its work force; these factors were what ultimately convinced us to purchase the company."
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