Motherson Sumi Systems
|
Public BSE: 517334 NSE: MOTHERSUMI | |
| Industry | Automotive |
| Founded | January 1, 1986[1] |
| Founder | Mrs. S. L. Sehgal[2] |
| Headquarters | Noida, India |
Number of locations | 35[3] |
Key people |
Vivek Chaand Sehgal (Chairman) Vaaman Sehgal (Vice-Chairman) Pankaj Mital (COO)[2] |
| Products |
Electrical Distribution Systems & Polymer Processing |
| Revenue |
 ₹32000 crore (US$4.8 billion)[4] |
|
₹391 crore (US$58 million)[5] | |
| Total assets |
₹2236 crore (US$330 million)[5] (Net fixed assets) |
Number of employees | 28,000[5] |
| Parent | Samvardhana Motherson Group |
| Website | Official website |
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.
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.[1]
Motherson Sumi Systems has offices and manufacturing units in 24 international & 11 Indian locations.[3]
History
First group company "Motherson" was established in 1976. 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.[6][7][8][9]
| Year | Events |
|---|---|
| 1975 | Motherson founded |
| 1977 | First Cable factory started |
| 1983 | Technical agreement with Sumitomo Wiring Systems, Japan for Wiring Harness |
| 1986 | JV with Sumitomo Wiring Systems, Japan |
| 1989 | Injection Moulding commencement |
| 1992 | Cutting Tool Manufacturing |
| 1999 | First Overseas office established (Austria) |
| 2000 | Representative Office at Singapore |
| 2002 | Established wiring harness manufacturing at Sharjah and design centre at Ireland |
| 2003 | Offices in USA & UK established |
| 2004 | European Headquarters established in Germany |
| 2005 | Established fabrication units in Germany |
| 2006 | Established fabrication units in UK |
| 2007 | Established fabrication units in Australia |
| 2009 | Takeover of Visiocorp |
| 2011 | Takeover of Peguform |
| 2014 | Takeover of Stoneridge Wiring Division |
| 2014 | New Plant Start in Noida of Injection Moulding (MAE_ NOIDA) |
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.[10] 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.
References
- 1 2 "Profile". Official website. Retrieved Jan 2012.
- 1 2 "Management". Official website. Retrieved Jan 2012.
- 1 2 "Locations". Official website. Retrieved Jan 2012.
- ↑ "Annual report 10-11". Bombay Stock Exchange. Retrieved Jan 2012.
- 1 2 3 "Annual report 10-11" (PDF). Bombay Stock Exchange. Retrieved Jan 2012.
- ↑ "History". Official website. Retrieved Jan 2012.
- ↑ "Motherson acquires Peguform". Economic Times. Retrieved Jan 2012.
- ↑ "Motherson acquires Visiocorp PLC". DNA. Retrieved Jan 2012.
- ↑ "Motherson acquires Empire Rubber". Business Line. Retrieved Jan 2012.
- ↑ "Motherson-Stoneridge Deal". Bloomberg TV India.