 "Motherson Sumi acquires German plastic auto part maker Scherer & Trier")
Samvardhana Motherson Automotive Systems Group BV (SMRP BV), the Netherlands-based subsidiary of Motherson Sumi Systems and joint venture with Samvardhana Motherson International Ltd, has signed an agreement to purchase assets of Germany-based Scherer & Trier group (S&T) from its administrator through its step down subsidiaries. The acquired entity is expected to strengthen its other plastic parts subsidiary Samvardhana Motherson Peguform (SMP), which supplies automotive exterior and interior modules such as door trims, cockpits and bumpers, etc to the European automotive industry.
Motherson Sumi Systems will pay approximately Euro 36 million for S&T’s assets including land and building & inventories along with the shareholding held in Mexican entities.
The acquisition includes Scherer & Trier’s two manufacturing facilities situated at Michelau (Germany) and Puebla, (Mexico). Scherer & Trier develops and manufactures extrusion profiles, moulded parts made of thermoplastics and hybrid components made of metal and plastic catering to OEMs like Audi, BMW, Daimler, Ford, GM, VW etc. along with other customers. It also has a strong vertical integration including state-of-the-art tool room for injection moulding tools, process engineering and in-house material development capabilities. The current turnover of Scherer & Trier is in the range of Euro 240 million.
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The acquisition is expected to further consolidate Motherson Sumi Systems’ polymer business in Europe & North America. The deal is subject to completion of regulatory approvals and is expected to be completed in the month of January 2015.
V C Sehgal, Chairman, Samvardhana Motherson Group, said, “S&T is a company with strong technological know-how and a well-established product line. The Group will get further enriched with the talented and experienced team which joins us as a part of this acquisition. The significant synergies between S&T's products and SMRP BV, will now allow Motherson to offer a more diversified range of polymer products to its customers.”
Scherer & Trier manufactures parts for companies like Audi, BMW, Daimler, Ford, General Motors and Volkswagen.
Motherson Sumi Systems will pay approximately Euro 36 million for S&T’s assets including land and building & inventories along with the shareholding held in Mexican entities.
The acquisition includes Scherer & Trier’s two manufacturing facilities situated at Michelau (Germany) and Puebla, (Mexico). Scherer & Trier develops and manufactures extrusion profiles, moulded parts made of thermoplastics and hybrid components made of metal and plastic catering to OEMs like Audi, BMW, Daimler, Ford, GM, VW etc. along with other customers. It also has a strong vertical integration including state-of-the-art tool room for injection moulding tools, process engineering and in-house material development capabilities. The current turnover of Scherer & Trier is in the range of Euro 240 million.
ALSO READ: Motherson Sumi: Expanding reach
The acquisition is expected to further consolidate Motherson Sumi Systems’ polymer business in Europe & North America. The deal is subject to completion of regulatory approvals and is expected to be completed in the month of January 2015.
V C Sehgal, Chairman, Samvardhana Motherson Group, said, “S&T is a company with strong technological know-how and a well-established product line. The Group will get further enriched with the talented and experienced team which joins us as a part of this acquisition. The significant synergies between S&T's products and SMRP BV, will now allow Motherson to offer a more diversified range of polymer products to its customers.”
Scherer & Trier manufactures parts for companies like Audi, BMW, Daimler, Ford, General Motors and Volkswagen.