Motherson Sumi Systems approves rejig plan to simplify group structure

The reorganisation plan entails a demerger of the domestic wiring harness (DWH) business from MSSL into a new company that is in the process of being incorporated as a wholly-owned subsidiary of MSSL

Auto component major Motherson Sumi Systems (MSSL) on Thursday said it has approved a group reorganisation plan that will create a simplified corporate structure to help businesses grow across product portfolios within the auto components space and allied operations, the firm said.

The reorganisation plan, approved by the respective boards of MSSL and Samvardhana Motherson International (SAMIL), among other things, entails a demerger of the domestic wiring harness (DWH) business from MSSL into a new company that is in the process of being incorporated as a wholly-owned subsidiary of MSSL. It also includes the subsequent merger of SAMIL into MSSL to