Motherson Sumi Systems Limited (MSSL), Noida-headquartered auto component giant, has announced acquisition of acquisition of assets of Scherer & Trier of Germany, through its subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRP BV). The deal, which is worth nearly Euro 36 million (Rs 283 crore), will include the transfer of assets including land and building & inventories along with shareholding in its Mexican entities.
Scherer & Trier (S&T) is a manufacturer of extrusion profiles, moulded parts made of thermoplastics and hybrid components made of metal and plastic catering to OEMs like Audi, BMW, Daimler, Ford, GM, VW etc. along with other customers. The current turnover of “Scherer & Trier” is in the range of Euro 240 million.
“This acquisition reiterates the trust and confidence our customers place in us and will further strengthen the product portfolio of Motherson. S&T is a company with strong technological know-how and a well-established product line. The Group will get further enriched with the talented and experienced team which joins us as a part of this acquisition,” said V C Sehgal, Chairman, Samvardhana Motherson Group. “The significant synergies between S&T’s products and SMRP BV, will now allow Motherson to offer a more diversified range of polymer products to its customers,” he added.
SMRP BV is a subsidiary of Motherson Sumi Systems Ltd (MSSL) — the flagship company of Samvardhana Motherson Group. SMRP BV is also a joint venture between Motherson Sumi Systems and Samvardhana Motherson International Ltd.
Motherson sumi said that this acquisition should help them further consolidate MSSL’s polymer business in Europe & North America.
The acquisition is expected to be completed in the month of January 2015, subject to completion of regulatory approvals.
