With six manufacturing plants at Mexico & USA
Motherson Sumi Systems announced the completion of acquisition of wiring harness business of Stoneridge Inc. at a consideration of USD 65.7 million on cash no debt basis. The total outlay of USD 71.38 million includes increase in working capital and cash/bank balances subject to post closing adjustments.The current revenue of the acquired business is USD 300 million. It has six manufacturing plants at Mexico and USA. With this acquisition, the Company now has over 45 plants related to wiring harness business.
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