European Investment company Gimv has re-invested in VCST, a Sint-Truiden, Belgium-based developer and producer of precision parts for engine and transmission gears, transmission shafts and brake components, for both automotive and non-automotive customers.
Gimv already owned a majority stake in the company and with this new investment increased its stake in VCST from 53.1% to 79.8% by acquiring LRM’s interest.
The aim of the new commitment is to allow the company to continue to grow, with further diversification regarding markets, customer base and innovative product solutions.
Founded in 1972, VCST is currently present on the European and North American markets, with factories in Sint-Truiden, Reichenbach (Germany), Leon (Mexico), and Ghangzhou (China). Customers include Continental, Volkswagen, Ford, Paccar, GM, ZF, and more.
The group, which currently employs almost 1,000 members of staff, expects to achieve a turnover of approximately €150m in 2011.