Samvardhana Motherson International Ltd (SAMIL), the holding firm of auto component major Samvardhana Motherson Group, on Thursday said it has acquired 100 per cent stake in MS Global India Pvt Ltd (MSGI) from Korea-based MS Group. MSGI is a supplier of various components, including frames for chassis of commercial vehicles. The acquisition will allow SAMIL to enter a new vertical – sheet metal parts with focus on hot stamping – a light weighting technology for high strength sheet metal parts. "We look forward to the opportunities that this step in a new direction will bring to us," Samvardhana Motherson Group Chairman V C Sehgal said in a statement. The company, however, did not disclose financial details. "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," Sehgal said.
Samvardhana Motherson acquires MS Global India from Korea-based MS Group
MSGI is a supplier of various components, including frames for chassis of commercial vehicles
Press Trust of India |