Matherson Sumi Systems Limited successfully closes acquisition of Reydel Automotive Group
Sanjay Krishna | Myequity news | Date : 03-08-2018 10:30:00 IST
Matherson Sumi Systems Limited (MSSL), flagship company of the Samvardhana Matherson Group (SMG), through its step down subsidiary SamvardhanaMatherson Automotive Systems Group B.V. (SMRP BV) today announced the successful completion of the acquisition of Reydel Automotive Group.
• Acquisition further consolidates Motherson's position as a global interior supplier through amalgamation of complementary portfolio and capabilities.
• Acquisition enhances Motherson's diversification across customer portfolio and geographical footprint to over 200 facilities across 41 countries.
Reydel manufactures interior components and modules for global automotive customers. This is the 21st acquisition by the Samvardhana Matherson Group and will further bolsterMotherson's offerings in the automotive interiors space.
"We are delighted that all acquisition related requirements are now complete and are happy to officially welcome Reydel Automotive into the Matherson family. Reydel's world classdevelopment capabilities and strong customer relationships have great alignment with our existing offerings," said Mr. Vivek Chaand Sehgal, Chairman, Samvardhana Matherson Group
"The synergistic combination of complementary portfolios will definitely create a stronger business. We are very excited about this journey we are embarking on. While it brings us closerto meeting our 2020 targets, we are looking forward to integrating the Reydel team and working with them." said Mr. Laksh Vaaman Sehgal, Vice Chairman, Samvardhana MathersonGroup.About Samvardhana Motherson Automotive Systems Group BV (SMRP BV):
Samvardhana Matherson Automotive Systems Group BV (SMRPBV) is a step down subsidiary of Matherson Sumi Systems Limited (MSSL), the flagship company of SMG and Samvardhana Matherson International Limited (SAMIL),the principal holding company of SMG through their subsidiaries. SMRPBV has long-term relationships with a majority of the global OEMs. SMRPBV is present in each major globalautomotive production region, with 48 production facilities spread among 18 countries. SMRPBV operations include supplies to the global automotive industry as a Tier 1 supplier through its subsidiaries SamvardhanaMatherson Reflectec (SMR) and Samvardhana Matherson Peguform (SMP). About Motherson Sumi Systems Limited:
Matherson Sumi Systems Limited (MSSL) is one of the world's leading, specialized automotive component manufacturing companies for OEMs. MSSL was established in 1986 as a joint venture with Sumitomo WiringSystems and was listed in 1993 on the BSE and NSE in India. MSSL is a focused, dynamic and progressive company providing customers with innovative and value-added products, services and solutions. With a diverse globalcustomer base of nearly all leading automobile manufacturers globally, the company has a presence in 36 countries across six continents. MSSL is currently the largest auto ancillary in India and among the Fab SOcompanies of India by Forbes magazine. MSSL is the flagship company of the Samvardhana Matherson Group (SMG), which is ranked 23rd among global automotive suppliers by Automotive News.