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Motherson Group completes acquisition of majority stake in Plast Met Group (Turkey)

Capital Market 

Samvardhana Motherson Automotive Systems Group BV (SMRPBV), announced the successful closure of acquisition of a majority stake in Plast Met Plastik Metal San. alatveTic. A.(PM-Bursa) and Plast Met Kal San.veTic.

A.(PM-Istanbul) together known as Plast Met group (Turkey) through its subsidiary Samvardhana Motherson Reflectec (SMR).

With the successful closure of this acquisition, Motherson Group now has access to significant Turkish automotive market. Plast Met is a large automotive supplier in Turkey for injection moulded parts and sub-assemblies, and also owns a state of art commercial tool room engaged in manufacture and supplying of high end injection moulding tools to customers worldwide. Building on the capabilities of Plast Met group, Motherson will be able to support its customers in the European region more efficiently.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, April 30 2021. 11:53 IST