Samvardhana Motherson
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| Company type | Public |
|---|---|
| BSE: 517334 NSE: MOTHERSUMI | |
| Industry | Automotive |
| Founded | 1 January 1986[1] |
| Founder | Smt. S. L. Sehgal Mr. Vivek Chaand Sehgal[2] |
| Headquarters | , |
Number of locations | 41[3] |
Area served | Worldwide |
Key people | Vivek Chaand Sehgal (Chairman) Laksh Vaaman Sehgal (Director) Pankaj Mital (COO) Sanjeev Pant (CIO) G N Gauba (CFO)[2] |
| Products | Electrical Distribution Systems & Polymer Processing |
| Revenue |  ₹62,571 crore (US$7.5 billion)[4] |
| ₹15,970 million (US$190 million)[5] | |
| Total assets | ₹2,236 crore (US$270 million)[6] (Net fixed assets) |
Number of employees | 1,35,000[6] |
| Parent | Samvardhana Motherson Group |
| Website | Official website |
Motherson Sumi Systems Ltd. (MSSL)[7] was established in 1986 and is part of the Motherson Group. Motherson Sumi Systems Ltd. is a joint venture between Samvardhana Motherson International Ltd of India and Sumitomo Wiring Systems Ltd. (SWS) of Japan.[8] A collaboration with Tokai Electric Co. (now SWS) in 1983 led to the incorporation of Motherson Sumi Systems in 1986, primarily as a wiring harness manufacturer. The company was listed in 1993 on BSE and NSE in India. Motherson Sumi Systems is one of the largest manufacturers of wiring harnesses for commercial vehicles and rearview mirrors for passenger cars in the world and India's largest manufacturer of automotive wiring harnesses and mirrors for passenger cars. It is also a leading supplier of plastic modules and components in Europe and India. Motherson Sumi Systems[7] is currently the largest auto parts provider in India and was listed among the Fab 50 companies of India by Forbes magazine[9][10][11] It has been ranked No. 1 auto ancillary in India for seven consecutive years by Fortune India 500.[12][13] The Motherson Group is ranked 21st among global automotive suppliers by Automotive News. As of March 2018 – 2019, the company, along with its subsidiaries, had a consolidated revenue of US$9.1 billion.
History
"Motherson" was established in 1975. Motherson Sumi Systems was established in 1986 as a Joint Venture with Sumitomo Wiring Systems of Japan.
MSSL has done 18 acquisitions, the first being in wiring harness in 2002. Few major acquisitions by the company are that of rear view mirror business from Visiocorp (now renamed as Samvardhana Motherson Reflectec) in 2009, Peguform (now named Samvardhana Motherson Peguform) in 2011, wiring harness business of Stoneridge Inc in 2014, PKC group in 2017, Reydel Automotives in 2018 and Bombardier's UK rolling stock electrical component and systems business in 2019 which established Motherson as a global Tier-1 supplier to the major OEMs of the automotive industry.
Following are the key timelines.[14][15][16][17]
| Year | Events |
|---|---|
| 1975 | Motherson founded |
| 1977 | First Cable factory started |
| 1983 | Technical agreement with Tokai Electric Co. (Now Sumitomo Wiring Systems-Japan) Wiring Harness |
| 1986 | Establishment of Motherson Sumi Systems Ltd. in joint venture with Sumitomo Wiring Systems, Ltd., Japan |
| 1993 | Motherson Sumi Systems Ltd. listed on stock exchanges in India |
| 1999 | First Overseas office established (Austria) |
| 2000 | Representative Office at Singapore |
| 2002 | Acquisition of assets of Wexford electronics for manufacturing of wiring harnesses for material handling and earthmoving equipment; establishment of Design Centre at Ireland |
| 2003 | Offices in USA & UK established, Tool Room at Sharjah |
| 2004 | European Headquarters established in Germany |
| 2009 | Acquisition of rearview mirror business of Visiocorp. The new company is now known as Samvardhana Motherson Reflectec (SMR). |
| 2011 | Acquisition of Peguform, a global tier 1 manufacturer specializing in interior and exterior polymer modules. The acquired company is now known as Samvardhana Motherson Peguform (SMP) |
| 2014 | Acquisition of wiring harness business of Stoneridge Inc. |
| 2017 | Acquisition of PKC Group PLC, Finland, wiring harness business for heavy duty commercial vehicles |
| 2018 | Acquisition of Reydel Automotive Group for interior components which includes instrument panels, door panels, console modules, decorative parts and cockpit modules[18] |
| 2019 | Acquisition of Bombardier's UK rolling stock electrical component and systems business[19] |
Business portfolio
The present product range of MSSL comprises wiring harnesses (electrical distribution systems), rearview mirrors, moulded plastic parts including car interior and exterior parts, bumpers, dashboards and door trims, complete polymer modules, rubber components for automotive and industrial applications, high precision machined metal parts and injection moulding tools.[20]
Geographical presence
MSSL has developed a network of manufacturing bases, design centres, logistics centres, marketing support and sourcing hubs across a diversified geographical base. MSSL has presence in 41 countries which includes India (Noida, Gurgaon, Manesar, Faridabad, Pune, Bengaluru, Chennai, Kandla, Lucknow, Pathredi, Tapukara, Sanand, Haldwani, Nasik, Indore, Puducherry), U.S.A, Mexico, UAE., Sri Lanka, Singapore, China, South Korea, Japan, Hong Kong, Germany, UK., Czech Republic, Netherlands, Hungary, Italy, Spain, France, Ireland, Jersey, Luxemburg, Cyprus, Macedonia, South Africa, Australia, Brazil, Thailand, Slovakia, Lithuania, Finland, Estonia, Poland, Portugal, Russia, Serbia, Mauritius, Argentina, Morocco, Philippines, Indonesia and Croatia. MSSL has over 230 facilities across six continents – Asia, Europe, North America, South America, Africa and Australia.
References
- ^ "Profile". Official website. Archived from the original on 7 January 2012. Retrieved 31 January 2012.
- ^ a b "Management". Official website. Retrieved 2 August 2019.
- ^ "Global Presence - About Us". www.motherson.com. Retrieved 15 September 2019.
- ^ "Annual report 18-19" (PDF). Company Website. Retrieved 31 January 2012.
- ^ >"Annual Report 2018-2019" (PDF). www.motherson.com. Retrieved 15 September 2019.
- ^ a b "Annual report 10-11" (PDF). Bombay Stock Exchange. Retrieved 31 January 2012.
- ^ a b "Motherson Sumi: The secret". www.fortuneindia.com. Retrieved 14 September 2019.
- ^ "Sumitomo Wiring System, Ltd". Sumitomo Wiring System, Ltd. official website. Retrieved 14 September 2019.
- ^ "8 Indian companies in Forbes Asia's 'Fab 50' 2017 list; China dominates again". Forbes India. Retrieved 14 September 2019.
- ^ "Asia's Fab 50 Companies". Forbes. Retrieved 14 September 2019.
- ^ "Motherson Sumi: The sum of all parts". Forbes India. Retrieved 14 September 2019.
- ^ "Motherson Sumi Systems – Fortune 500 List 2017 – Fortune India". www.fortuneindia.com. Retrieved 14 September 2019.
- ^ "Motherson Sumi Systems – Fortune 500 List 2018 – Fortune India". www.fortuneindia.com. Retrieved 14 September 2019.
- ^ "History". Official website. Retrieved 31 January 2012.
- ^ "Motherson acquires Peguform". Economic Times. Retrieved 31 January 2012.
- ^ "Motherson acquires Visiocorp PLC". DNA. Retrieved 31 January 2012.
- ^ "Motherson acquires Empire Rubber". Business Line. Retrieved 31 January 2012.
- ^ "Vivek Chaand Sehgal: Man of many parts". Forbes India. 2018. Retrieved 15 September 2019.
- ^ "Acquisition of Bombardier's Rolling Stock Business". indiatimes.com.
{{cite web}}: CS1 maint: url-status (link) - ^ "'We have all the ingredients which say people are choosing the right car', Motherson Sumi Co-Founder". www.timesnownews.com. 28 May 2019. Retrieved 14 September 2019.
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