Evtec, a prominent supplier of assembled products, has successfully finalized its acquisition of JVM Castings Limited (JVM), marking a significant step in supporting the global automotive industry's transition to electrification.
Evtec aims to create a robust and interconnected network of suppliers within the UK automotive industry. The acquisition of JVM not only bolsters the UK's automotive supply chain but also aligns with global efforts to reduce carbon emissions and achieve net-zero targets.
Founded in 1929, JVM has been operating from its facility in Worcester and employing over 200 skilled personnel. For six decades, JVM has been a vital supplier of body castings and powertrain assemblies for Jaguar Land Rover, the UK's largest automotive manufacturer.
Zero Emissions
David Roberts, Chairman, Evtec, emphasised the importance of a seamless supply chain for Original Equipment Manufacturers (OEMs) navigating the shift from internal combustion vehicles to zero-emission platforms. Evtec's strategic consolidation of key suppliers, especially in super lightweight materials for body and powerpack parts, positions the company to play a crucial role in delivering world-class electric vehicles. With an order book exceeding £800 million for the next eight years, the acquisition of JVM ensures the necessary capacity to meet peak demand and secure additional business opportunities.
Rob Murcott, Chairman of JVM, expressed optimism about JVM's new chapter under Evtec's ownership, recognising the automotive sector's profound transition in vehicles and technology. With over 98 years of family ownership, JVM looks forward to contributing to the evolving landscape of the automotive industry.
JVM will seamlessly integrate into Evtec's global network, which has been strategically acquiring tier-one automotive suppliers transitioning to electrification since 2021. This move aligns with Evtec's commitment to staying at the forefront of the evolving automotive landscape and underscores its role as a key player in advancing the electrification agenda.
As the automotive industry undergoes a transformative shift towards electrification, Evtec's acquisition of JVM stands as a testament to its commitment to innovation, sustainability, and meeting the evolving demands of OEMs in this dynamic landscape.
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