New Delhi-based Samvardhana Motherson’s Dutch arm, Samvardharna Motherson Automotive Systems Group B.V., Netherlands
16 Dec 2014 | 4907 Views | By Autocar Pro News Desk
New Delhi-based Samvardhana Motherson’s Dutch arm, Samvardharna Motherson Automotive Systems Group B.V., Netherlands (SMRP BV), and joint venture with Samvardhana Motherson International has announced signing of an agreement for purchase of assets of Scherer & Trier group (S&T), Germany from its administrator through its step down subsidiaries.
In an ...
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New Delhi-based Samvardhana Motherson’s Dutch arm, Samvardharna Motherson Automotive Systems Group B.V., Netherlands (SMRP BV), and joint venture with Samvardhana Motherson International has announced signing of an agreement for purchase of assets of Scherer & Trier group (S&T), Germany from its administrator through its step down subsidiaries.
In an announcement, the company said the deal is worth about euro 36 million (Rs Rs 281 crore) for the assets including land and building & inventories along with the shareholding held in Mexican entities. The acquisition includes two manufacturing facilities situated at Michelau (Germany) and Puebla (Mexico)
Scherer & Trier develops and manufactures extrusion profiles, moulded parts made of thermoplastics and hybrid components made of metal and plastic and caters to OEMs that include Audi, BMW, Daimler, Ford, General Motors and Volkswagen. The company also has a tool room for injection moulding tools, process engineering and in-house material development capabilities.
Scherer & Trier’s turnover is in the range of euro 240 million (Rs 1,875 crore). The acquisition is subject to completion of regulatory approvals and is expected to be completed in January 2015.
V C Sehgal, chairman, Samvardhana Motherson Group, said: “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.”
Motherson Sumi Systems Ltd (MSSL), the flagship company of the Samvardhana Motherson Group (SMG), is one of the largest manufacturers of rearview mirrors for passenger cars worldwide and India’s largest manufacturer of automotive wiring harnesses and mirrors for passenger cars. It is also a leading supplier of plastic modules and components in Europe and India. Its product range comprises wiring harnesses, rear view mirrors, moulded plastic parts including car interior and exterior parts, complete modules such as bumpers, dashboards and door trims, rubber components for automotive and industrial applications, high precision machined metal parts, injection moulding tools and HVAC systems.