Motherson Sumi to invest Rs 300 cr for capacity expansion

Auto component maker Motherson Sumi Systems Ltd (MSSL) plans to invest Rs 400-500 crore this year, much of it in India, on capacity expansion and new plants. It is also keen on acquisitions over and above its main business. The fresh investments will go towards expanding the capacity at its plants in Chennai, Haldwani (Uttarakhand) and Bengaluru. Besides, other international plants like the new one at Hungary, will be set up by March next year. MSSL’S consolidated net profit for the quarter ended June 30, 2010, rose to Rs 59.55 crore from Rs 11.05 crore in the same period last year. Consolidated net sales in the three-month period rose 32 per cent to Rs 1,858.63 crore. over 60 per cent of the company’s revenues are generated from outside India. Contact: Motherson Sumi Systems. Tel: 0120-675 2100. Fax: 0120-252 1866. Website: www.motherson.com