Motherson Sumi Systems forays into aerospace space with acquisition of CIM Tools

Motherson Sumi Systems today announced the acquisition of a majority stake in CIM Tools, one of the leading suppliers in the aerospace supply chain, based in Bengaluru, India. This milestone acquisition will mark MSSL's entry into the aerospace industry.

MSSL will acquire 55% stake from the promoters of CIM Tools (CIM). CIM in turn will hold 83% in Aero Treatment (ATPL) and currently holds 49.99% in Lauak CIM Aerospace (JV with Lauak International, LCA). CIM, ATPL and LCA are hereinafter referred to as CIM Group.

The three founders, Srikanth GS, Umesh AS and Vishwanath Deshpande, will retain 45% stake in CIM and will continue to drive further growth, in partnership with MSSL.

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