Livemint: December 17, 2014
Mumbai: Motherson Sumi Systems Ltd on Tuesday said it has acquired assets of German auto parts maker Scherer & Trier GmbH & Company KG, which includes two factories, one each in Germany and Mexico. The acquisition will be made through its Netherlands-based subsidiary Samvardhana Motherson Automotive Systems Group BV.
“The consideration payable is approximately €36 million for the assets including land and building & inventories along with the shareholding held in Mexican entities,” the company said in a statement.
The acquired entity develops and manufactures extrusion profiles, moulded parts made of thermo plastics and hybrid components made of metal and plastic catering to auto makers such as Audi, BMW, Daimler, Ford, General Motors, Volkswagen, etc.
The current turnover of Scherer & Trier is about €240 million.
The deal is subject to completion of regulatory approvals and is expected to be completed in January.
These acquisitions will strengthen the product portfolio of Motherson, according to V.S. Sehgal, chairman, Samvardhana Motherson Group.
“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. 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,” Sehgal said.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.