Motherson Sumi acquires assets of Scherer & Trier, Germany
Date: 16 Dec 2014
Samvardhana Motherson Automotive Systems Group B.V.,
Netherlands (SMRP BV), the 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, according to a press release
issued by the company.
The consideration payable is approximately Euro 36 million
(Rs 287 crore) 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. According to the press release, the
deal is subject to completion of regulatory approvals and is expected to be
completed in the month of January
2015.