New Delhi: Samvardhana Motherson Automotive Methods Group BV (SMRPBV), a step-down subsidiary of Samvardhana Motherson Worldwide Restricted (SAMIL), by way of one among its European subsidiaries, has signed a binding endeavor to accumulate 100% stake in CIRMA Entreprise, a French société par actions simplifiée, from Vinci Energies France, a French société par actions simplifiée.
This acquisition is completed to diversify SMRPBV’s portfolio of Electrical Wiring and Interconnect Methods (EWIS) for aerospace, shipbuilding, allied Industries and many others.
With this transaction Motherson will develop into Tier 1 to Aerospace OEM and proximity to OEM will open additional avenues for development.
It would even be doable to diversify to Electrical Wiring and Interconnect Methods (EWIS) for Aerospace, shipbuilding and different allied Industries from an current portfolio of aero construction part, machining and many others., the corporate mentioned in a media launch on Thursday.
Aligned with the expansion technique and synergistic with current wiring harness capabilities of Motherson, this transaction can even assist the Group achieve entry to the shipbuilding and allied Industries, the discharge mentioned.
The proposed transaction could also be topic to the approval/clearance from the French International Funding Management (FIC), the discharge added.
