Motherson Sumi Systems

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Motherson Sumi Systems Limited
Public
BSE517334
NSEMOTHERSUMI
Industry Automotive
Founded January 1, 1986 (1986-01-01)[1]
Founder Smt. S. L. Sehgal[2]
Headquarters Noida, India
Number of locations
35[3]
Area served
Worldwide
Key people
Vivek Chaand Sehgal (Chairman)
Vaaman Sehgal (Vice-Chairman)
Pankaj Mital (COO)[2]
Products Electrical Distribution Systems &
Polymer Processing
Revenue Increase32,000 crore (US$4.8 billion)[4]
Increase391 crore (US$58 million)[5]
Total assets Increase2,236 crore (US$330 million)[5] (Net fixed assets)
Number of employees
80,000[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[edit]

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.[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
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[edit]

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[edit]

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[edit]

  1. ^ a b "Profile". Official website. Retrieved Jan 2012.  Check date values in: |accessdate= (help)
  2. ^ a b "Management". Official website. Retrieved Jan 2012.  Check date values in: |accessdate= (help)
  3. ^ a b "Locations". Official website. Retrieved Jan 2012.  Check date values in: |accessdate= (help)
  4. ^ "Annual report 10-11". Bombay Stock Exchange. Retrieved Jan 2012.  Check date values in: |accessdate= (help)
  5. ^ a b c "Annual report 10-11" (PDF). Bombay Stock Exchange. Retrieved Jan 2012.  Check date values in: |accessdate= (help)
  6. ^ "History". Official website. Retrieved Jan 2012.  Check date values in: |accessdate= (help)
  7. ^ "Motherson acquires Peguform". Economic Times. Retrieved Jan 2012.  Check date values in: |accessdate= (help)
  8. ^ "Motherson acquires Visiocorp PLC". DNA. Retrieved Jan 2012.  Check date values in: |accessdate= (help)
  9. ^ "Motherson acquires Empire Rubber". Business Line. Retrieved Jan 2012.  Check date values in: |accessdate= (help)
  10. ^ "Motherson-Stoneridge Deal". Bloomberg TV India.