 "Motherson Sumi gains on acquisition plan of Germany's Scherer & Trier")
Shares in Motherson Sumi Systems were trading higher by 3% at Rs 417 on BSE in otherwise weak market after the company said that it is acquiring assets of Scherer & Trier group, Germany at around Euro 36 million (approx Rs 284 crore).
Samvardhana Motherson Automotive Systems Group BV, Netherlands (SMRP BV), the subsidiary and joint venture with Samvardhana Motherson International Ltd, has signed an agreement for purchase of the assets of S&T that includes two manufacturing facilities situated at Michelau (Germany) and Puebla, (Mexico).
Scherer & Trier manufactures parts for companies like Audi, BMW, Daimler, Ford, General Motors and Volkswagen and has a current turnover of Euro 240 million, according to the statement.
The stock opened at Rs 410 and touched a high of Rs 420 in early morning trade on BSE. Till 0926 hours, a combined 388,230 shares changed hands on the counter on NSE and BSE.
Samvardhana Motherson Automotive Systems Group BV, Netherlands (SMRP BV), the subsidiary and joint venture with Samvardhana Motherson International Ltd, has signed an agreement for purchase of the assets of S&T that includes two manufacturing facilities situated at Michelau (Germany) and Puebla, (Mexico).
Scherer & Trier manufactures parts for companies like Audi, BMW, Daimler, Ford, General Motors and Volkswagen and has a current turnover of Euro 240 million, according to the statement.
The stock opened at Rs 410 and touched a high of Rs 420 in early morning trade on BSE. Till 0926 hours, a combined 388,230 shares changed hands on the counter on NSE and BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%