Motherson Sumi acquires Scherer & Trier for Euro 36 million.

Motherson Sumi Systems Ltd. (MSSL) recently said that it is acquiring assets of Scherer & Trier group (S&T), Germany at around Euro 36 million.

Samvardhana Motherson Automotive Systems Group BV, Netherlands (SMRP BV), the subsidiary and joint venture with Samvardhana Motherson International Ltd, has signed an agreement for purchase of the assets of S&T that includes two manufacturing facilities situated at Michelau (Germany) and Puebla, (Mexico).

The considered amount is payable for the assets including land and building, and inventories along with the shareholding held in Mexican entities, the company said in a statement.

S&T develops and manufactures extrusion profiles, moulded parts made of thermoplastics and hybrid components made of metal and plastic catering to car makers such as Audi, BMW, Daimler, Ford, General Motors and Volkswagen.

The current turnover of S&T is in the range of Euro 240 million.

HBL