Industry Automotive Headquarters Noida Founded 1 January 1986 | Number of locations 35 Founder Mrs. S. L. Sehgal | |
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Type Public
BSE: 517334
NSE: MOTHERSUMI Key people Vivek Chaand Sehgal (Chairman)
Vaaman Sehgal (Vice-Chairman)
Pankaj Mital (COO) Products Electrical Distribution Systems &
Polymer Processing Revenue ₹32,000 crore (US$4.8 billion) Stock price MOTHERSUMI (NSE) ₹ 368.00 +0.65 (+0.18%)17 Mar, 3:30 PM IST - Disclaimer Parent organization Samvardhana Motherson Group Subsidiaries Samvardhana Motherson Reflectec Group Holdings Limited | ||
Motherson Sumi Systems, established in 1986 is the flagship company of the Samvardhana Motherson Group. Motherson Sumi Systems is a joint venture between Samvardhana Motherson Group and Sumitomo Wiring Systems of Japan.
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Motherson Sumi Systems is a leading automotive mirror and wiring harness manufacturer for passenger cars. It also supplies plastic components and modules to the automotive industry.
Motherson Sumi Systems has offices and manufacturing units in 24 international & 11 Indian locations.
History
First group company "Motherson" was established in 1975. However, Motherson Sumi Systems did not come into existence till 1986 when Joint Venture with Sumitomo Wiring Systems (of Japan) was formulated. Following are the key timelines.
Stoneridge Acquisition
Auto1 component manufacturer Motherson Sumi Systems Ltd (MSSL) has entered into an agreement to acquire Stoneridge Inc’s wiring harness business for $65.7 million. The acquisition is expected to close in the third quarter of 2014 and the acquired company has a turnover of nearly $300 million.
This acquisition will further strengthen the company's presence in North America where it has in the recent past, established wiring harness operations. This is by far the largest acquisition for the core business of wiring harnesses.
Previous Acquisitions
Before this, MSSL has done 10 acquisitions, the first being in wiring harness in 2002, and other noticeable being acquisition of mirror business from Visiocorp (now renamed as Samvardhana Motherson Reflectec) in 2009 and Peguform (now named Samvardhana Motherson Peguform) in 2011, which established Motherson as a global Tier-1 supplier to the major OEMs of the automotive industry.