Samvardhana Motherson International gains on inking pact to acquire Dr. Schneider Group
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Samvardhana Motherson International is currently trading at Rs. 99.00, up by 1.99 points or 2.05% from its previous closing of Rs. 97.01 on the BSE.
The scrip opened at Rs. 97.96 and has touched a high and low of Rs. 100.50 and Rs. 96.91 respectively. So far 712562 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 100.50 on 25-Jul-2023 and a 52 week low of Rs. 61.84 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 100.50 and Rs. 94.65 respectively. The current market cap of the company is Rs. 66951.04 crore.
The promoters holding in the company stood at 64.77%, while Institutions and Non-Institutions held 26.02% and 9.22% respectively.
Samvardhana Motherson International (SAMIL) via its 100% subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has entered into an agreement to acquire assets and shares of the Dr. Schneider Group entities from the insolvency administrator, Dr. Joachim Exner.
Dr. Schneider Group is a manufacturer of high-end, innovative, and integrated electronic interior polymer components and systems, such as smart surfaces and lighting modules. The company is a technology leader in air-vents, decorative interior polymer components with illumination and has strong presence in premium vehicles. It employs around 4,500 people in 07 facilities across 05 countries (Germany, Spain, Poland, USA, China).
The company is a leading Tier 1 supplier of polymer based interior modules and is working closely with automotive OEMs towards enhancing interior experience. There is a lot of synergies between Motherson and Dr. Schneider. Aesthetics and interior illumination are playing important role in the growing trend of premiumisation. With this acquisition, Motherson will also gain access to innovative electronic interior polymer components and can offer these innovations and technologies to other emerging countries and to medium segment customers by leveraging its existing global footprints and customer relationships.
Samvardhana Motherson International is one of the world’s leading specialized automotive component manufacturing companies for OEMs. The company, formerly known as Motherson Sumi Systems was established in 1986 as a joint venture with Sumitomo Wiring Systems.
