Source Name: Motherson Sumi Systems Limited

Motherson Sumi Systems Limited (MSSL) Announces Acquisition of "Assets of Scherer & Trier, Germany" Through its Subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRP BV)

Dec 15, 2014 20:54 IST

New Delhi, Delhi, India

Editor’s synopsis

Samvardhana Motherson Automotive Systems Group B.V., Netherlands (SMRP BV), Company’s subsidiary and joint venture with Samvardhana Motherson International Ltd. 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.

The consideration payable is approx. Euro 36 million for the assets including land and building & inventories along with the shareholding held in Mexican entities.

This acquisition includes 2 manufacturing facilities situated at Michelau (Germany) and Puebla, (Mexico)

The acquired entity develops and manufactures 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.

It also has a strong vertical integration including state-of-the-art tool room for injection moulding tools, process engineering and in-house material development capabilities.

The current turnover of “Scherer & Trier” is in the range of Euro 240 million.

This acquisition further consolidates MSSL’s polymer business in Europe & North America.

The deal is subject to completion of regulatory approvals and is expected to be completed in the month of January 2015.

Commenting on the acquisition, Mr. V C Sehgal, Chairman, Samvardhana Motherson Group said:

“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. 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.”

Annexure

Abbreviations

SMG: Samvardhana Motherson Group (www.motherson.com)

MSSL: Motherson Sumi Systems Ltd. (www.motherson.com)

SMRP BV: Samvardhana Motherson Automotive Systems Group BV (www.smrpbv.com)

SMR: Samvardhana Motherson Reflectec (www.smr-automotive.com)

SMP: Samvardhana Motherson Peguform (www.smp-automotive.com)

Motherson Sumi Systems Ltd.

Motherson Sumi Systems Limited (MSSL) is the flagship company of the Samvardhana Motherson Group (SMG). MSSL is a global company providing customers with innovative and value-added products, services and solutions. The USD 5.02 billion company is one of the largest manufacturers of rearview mirrors for passenger cars in the world 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 & India. MSSL’s diverse global customer base comprises of almost all leading automobile manufacturers globally.

The product range of MSSL comprises of - 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.

As a globally preferred solutions provider offering end-to-end solutions encompassing designing from basic data to prototyping, tooling, moulding, assembly and integrated modules, MSSL has a global network of over 140 manufacturing plants supported by design centers, marketing support and logistics centers in 25 countries to provide timely and quality delivery to support its customers across the world.

MSSL is ranked No.1 auto ancillary in India for the last 4 consecutive years by Fortune and also ranked 55th among global auto component suppliers. MSSL has been included in Forbes Fabulous 50 Asian Companies and also finds a place in the Top 10 global value creator by BCG.

(CIN-L34300DL1986PLC026431)

Samvardhana Motherson Automotive Systems Group BV (SMRP BV)

Samvardhana Motherson Automotive Systems Group BV (SMRPBV) is a Samvardhana Motherson Group Company. SMRPBV is joint venture between Motherson Sumi Systems Limited (MSSL), the flag-ship company of SMG and Samvardhana Motherson International Limited (SMIL), the principal holding company of SMG through their subsidiaries. SMRPBV has long-term relationships with 14 of the top 15 global OEMs by 2013 production volume and Company’s OEM customers collectively represented over 80% of global automotive production in 2013. SMRPBV is present in each major global automotive production region, with 37 production facilities spread among 16 countries and employed over 18,000 employees as of March 31, 2014. SMRPBV operations include supplies to global automotive industry as Tier 1 supplier through its subsidiaries Samvardhana Motherson Reflectec (SMR) and Samvardhana Motherson Peguform (SMP).

Samvardhana Motherson Reflectec (SMR) is one of the largest manufacturers of rearview mirrors for passenger cars in the world. The company develops, produces and distributes exterior mirrors, interior mirrors, blind spot detection systems and a wide range of other automotive components. The company has 22% of the global market share in production of exterior mirrors for passenger cars, commercial vehicles and heavy trucks and is one of the leading experts for camera based sensing systems in the automotive industry. SMR operates 22 facilities and one sequencing centre in 14 countries across Europe, Asia and the Americas.

Samvardhana Motherson Peguform (SMP) is a leading specialist for automotive exterior and interior modules in the automotive industry. The company supplies plastic parts to customers across the globe as well as complete systems and modules for the interior and exterior of vehicles. It is one of the largest suppliers of modules such as door trims, cockpits and bumpers etc. to the European automotive indus-try. SMP operates 15 manufacturing facilities and eight logistics centers in 7 countries across Europe, Asia and the Americas.

Scherer & Trier

Scherer & Trier with its headquarters in Michelau/Oberfranken (Germany) has become an internationally renowned specialist in plastic technologies since its foundation in 1967. The company develops and manufactures profiles and moulded parts made of thermoplastics, and hybrid components made of metal and plastic providing uninterrupted services to its customers. An in-house material technological advances. The company was put into administration on 10^th March 2014.

Facility -1: Michelau, Germany (Head office)

Founded: 1967

Products: Exterior components, such as rocker panels, spoilers, scuff plates, moldings, belt line mouldings, and antenna hoods; interior products, such as air bag covers, and decorative trim parts

Facility -2: Puebla, Mexico

Founded: 2001

Products: Extrusion profiles and injection moulded parts

Media Contacts:

Mr. Dharmanshu Chaturvedi / Mr. Rahul Deep

Corporate Communications,

Motherson Sumi Systems Limited

Telephone – 9873662460 / 9910085201

Email dharmanshu@smil.motherson.com;

rahuldeep@smil.motherson.com

Mr Saurabh Saxena

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