Motherson Sumi Systems (MSSL) is the flagship company of the Samvardhana Motherson Group (SMG), announced that the Samvardhana Motherson Automotive Systems Group B.V., Netherlands (SMRP BV), company’s subsidiary 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.
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.