Samvardhana Motherson International Limited (SAMIL), the principal holding company of Samvardhana Motherson Group has announced that it has successfully acquired 100% of MS Global India Pvt Ltd (MSGI), from the Korea based MS Group.
MSGI is a Rs 3.5 billion profitable Tier 1 supplier to leading global commercial vehicle OEMs. Through its manufacturing facility in Chennai, it is currently engaged in Cabin-in- White (Pressed Sheet Metal business) and frames for chassis for Commercial Vehicles. Further, MSGI has the exclusive license to use MS Group’s leading hot stamping technology in India.
The acquisition of MS Global India will see SAMIL enter a new vertical - Sheet Metal parts with focus on hot stamping - a light weighting technology for high strength Sheet Metal parts. This technology augurs well towards the trend of light weighting of vehicles and will also find increased use in Electronic Vehicles.
The technology from MS Global India and the spread of Motherson Group’s operations and client portfolio means that the business can be accelerated many fold in a short span of time.
V.C. Sehgal, Group Chairman, said “We look forward to the opportunities that this step in a new direction will bring us. We believe that there are many synergies at play, most important being, it increases our offerings in terms of content per car, as these parts are used in both passenger and commercial vehicles. As always, we are grateful for the support and confidence of our customers, who encourage us to take steps in new directions and create new opportunities for us.”
Source: Samvardhana Motherson
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