PARIS, NOVEMBER THE 23th 2016
On Wednesday, November 23, 2016, Vignal Lighting Group, the European leader in lighting and signaling for industrial and commercial vehicles, inaugurated its new Corbas plant in Greater Lyon, with David Kimelfeld, Executive Vice-President of the Métropole de Lyon regional authority and Emmanuel Imberton, President of the Lyon Métropole Chamber of Commerce and Industry. Olivier Millet, Chairman of the Eurazeo PME Executive Board and Pierre Meignen, Managing Director of Eurazeo PME, the company’s majority shareholder since 2014, were present alongside Vignal Lighting Group’s Chief Executive Officer, Jean-Louis Coutin, and the company’s teams.
A new 11,500 m² industrial center
Backed by Eurazeo PME and its financial partners, the group has invested nearly €13 million in this new 11,500m2 R&D and production center, which is double the size of the former site in Vénissieux, and can be extended by a further 30%. With more than 250 employees, the entire Corbas plant was newly built in 2016 and uses state-of-the-art industrial equipment.
This inauguration marks an important milestone in the industrial expansion of the group which has gained one more plant since the acquisition of CEA.
Finalization of the CEA acquisition
The acquisition of CEA, the leading beacon manufacturer in Europe, was concluded with its manager, Mr. Bellù, at the end of September 2016. Vignal Lighting Group thus secured a first-rate manufacturing site based in Rancate, Switzerland, offering significant expertise in optics, electronics and mechanics. The group will now be able to boost its product range and develop a safety product offering for special vehicles, while consolidating its position in certain European markets, particularly the farming sector.
Vignal Lighting Group is furthering its international expansion and now has industrial sites on three continents: Europe, America and Asia.
A new plant in China
With more than 75% of its revenue generated abroad, Vignal Lighting Group is opening a new manufacturing site in Changzhou, China, which is located near Shanghai. This 3,600m² plant, which should be operational in the first quarter of 2017, will manufacture all the group’s products for the fast-growing Asian markets. Some contracts have already been signed thanks to this new production base.
All these growth projects were made possible by the group’s refinancing at the end of September 2016, together with the support of Eurazeo PME.
Jean-Louis Coutin, Chief Executive Officer of Vignal Lighting Group, declared: “The inauguration of this plant marks an important milestone in the expansion of our company. More generally, all of our achievements in France and abroad demonstrate the unwavering commitment of our teams to the group’s success. This also proves that we have made a wise choice in welcoming Eurazeo PME as the majority shareholder of Vignal Systems. With its support, we have managed to move a step further in the group’s development.”
Pierre Meignen, Managing Director of Eurazeo PME, added: “The opening of the Corbas industrial center, followed by a plant in China, and the acquisition of CEA are all projects that confirm the Vignal Lighting Group’s transformation into a world-class intermediate-sized company. We are pleased to have contributed over nearly three years to the growth of this company that never ceases to fascinate us. Alongside Jean-Louis Coutin and his team, we will apply our expertise in the global expansion of French SMEs to foster the group’s growth.”