Motherson Sumi buys assets of Scherer & Trier for $44.8 million

REUTERS - Auto parts maker Motherson Sumi Systems Ltd would buy assets of Germany's Scherer & Trier group for about 36 million euros ($44.8 million) through a subsidiary, Motherson Sumi said in a statement late on Monday.

The subsidiary, Samvardhana Motherson Automotive Systems Group BV of Netherlands has signed an agreement to buy Scherer & Trier assets including two manufacturing facilities situated in 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 240 million euros, according to the statement.

($1 = 0.8031 euro)

(Reporting by Nivedita Bhattacharjee in Mumbai; Editing by Anand Basu)