Board of Samvardhana Motherson International approves acquisition of majority stake in Atsumitec Co.
At meeting held on 06 December 2024
The Board of Directors of Samvardhana Motherson International (SAMIL) at its meeting held on 06 December 2024, inter-alia, approved the acquisition of 95% shares with voting rights in Japanese company Atsumitec Co. through its wholly owned subsidiary of Samvardhana Motherson Automotive Systems Group B.V (SMRP B.V.).
Honda Motor shall continue to own remaining 5% voting rights shares in Atsumitec Co.
Atsumitec Co. is engaged in the production of high precision machined components including gear shifters, chassis and transmission parts for 4- Wheeler and 2-Wheeler vehicles.
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First Published: Dec 06 2024 | 2:00 PM IST