Its profit plunged 32-fold in 2021 down to RON315,776 (EUR64,000) from RON10.1 million (EUR2.1 million) in 2020, in line with public data. Elba had on average 870 employees in 2021.
Elba Timisoara has a tradition of nearly 100 years and is a leading manufacturer in Eastern Europe, specialized on the mainstream market for automotive and technical lighting. The company was privatized in 1995 via a management and employee buyout.
In September 2018, Elba Timisoara signed a joint venture agreement with US automotive headlight producer Varroc Lighting Systems, in view of manufacturing electronics in Romania and established the company Varroc-Elba Electronics headquartered in Timisoara (western Romania).
Varroc Lighting Systems, a division of Varroc Group owned by Indian billionaire Tarang Jain, is a leading global supplier of innovative automobile and two-wheeler lighting solutions.