Motherson Sumi concludes USD 65.7-mn acquisition
Auto component major Motherson Sumi Systems Friday said it has concluded its USD 65.7-million deal to acquire the wiring harness business of the US-based Stoneridge Inc.
The acquisition includes six manufacturing facilities at Portland in Indiana, as also Chihuahua and Monclova in Mexico. This apart, it has also acquired the engineering and administrative centre located at Warren in Ohio.
"The addition of these manufacturing facilities would enable Motherson Sumi to service the growing requirement of the customers in the region. With this acquisition, Motherson Sumi now has over 45 plants related to wiring harness business," the company said.
Stoneridge's current is $300 million. On May 27, Motherson Sumi had signed a pact on this to acquire Stoneridge's wiring harness business through asset purchase for $65.7 million on a no-cash-no-debt basis.
Motherson Sumi's stock had ended at 352.35 Friday, posting a loss of Rs.12.20 or 3.35 percent.
(Posted on 02-08-2014)
Information on States of India:
Andaman Nicobar | Andhra Pradesh | Arunachal Pradesh | Assam | Bihar | Chandigarh | Chhattisgarh | Dadar Nagar Haveli | Daman Diu | Delhi | Goa | Gujarat | Haryana | Himachal Pradesh | Jammu Kashmir | Jharkhand | Karnataka | Kerala | Lakshadweep | Madhya Pradesh | Maharashtra | Manipur | Meghalaya | Mizoram | Nagaland | Orissa | Pondicherry | Punjab | Rajasthan | Sikkim | Tamil Nadu | Tripura | Uttar Pradesh | Uttaranchal | West Bengal
INDIA REGIONAL MAPS:
Andhra Pradesh Travel Map | Bihar Travel Map | Goa Travel Map | Gujarat Travel Map | Haryana Travel Map | Himachal Pradesh Map | Karnataka Travel Map | Kerala Travel Map | Maharashtra Travel Map | Punjab Travel Map | Rajasthan Travel Map | Sikkim Travel Map | Tamil Nadu Travel Map | Uttar Pradesh Travel Map | West Bengal Travel Map |
KERALA TRAVEL MAPS:
TRAVEL MAPS OF INDIA:
INDIA CITY MAPS: