South Korean firm LG paid €1.1bn to acquire ZKW, the Austrian maker of electronics and lights for the automotive sector. The Austrians have a 2,500-strong plant in Krušovce near Topoľčany. In 2016, the plant improved its net profit 65% to €14.3m and its sales soared 54% to €354.9m. LG intends to be among the TOP10 global automotive suppliers by 2025.
Last year, LG acquired a 50.1% stake in c2i Dunajská Streda for €40m. c2i makes carbon parts for the automotive and aviation sectors.