SAMIL to buy SAS from Faurecia for Rs 47.90 billion
ECONOMY & POLICY

SAMIL to buy SAS from Faurecia for Rs 47.90 billion

Samvardhana Motherson International (SAMIL), based in Noida, has announced the acquisition of SAS Autosystemtechnik (SAS), a manufacturer of auto cockpit modules, from the French business Faurecia for Rs 47.90 billion.

"This acquisition will position Motherson Group as a global leader in cockpit module assembly, with a particular emphasis on electric vehicle (EV) models," stated Vivek Chaand Sehgal, chairman of SAMIL.

The EV business accounts for roughly half of SAS's total net revenues. It produces cockpit modules and other components for EVs manufactured by European automakers such as Volkswagen, koda Auto, Mercedes-Benz, Porsche, Audi, and Chrysler.

SAS generates over 60% of its revenue in Europe, 31% in the Americas, and 9% in China.

SAS' acquisition, which requires approval from the European Commission as well as merger control agencies in China, Brazil, Mexico, and the United States, is scheduled to close between July and September of this year, according to SAMIL.

SAS employs over 5,000 workers across 12 countries in 24 manufacturing facilities.

"The company's enterprise value is €540 million. The deal will be financed through a combination of loans and internal accruals. "The deal is still subject to information or consultation with employee representatives," stated SAMIL.

Also Read
India launches 1 indigenously developed ATS system for DMRC
Yokohama to invest to expand production capacity in India

Samvardhana Motherson International (SAMIL), based in Noida, has announced the acquisition of SAS Autosystemtechnik (SAS), a manufacturer of auto cockpit modules, from the French business Faurecia for Rs 47.90 billion. This acquisition will position Motherson Group as a global leader in cockpit module assembly, with a particular emphasis on electric vehicle (EV) models, stated Vivek Chaand Sehgal, chairman of SAMIL. The EV business accounts for roughly half of SAS's total net revenues. It produces cockpit modules and other components for EVs manufactured by European automakers such as Volkswagen, koda Auto, Mercedes-Benz, Porsche, Audi, and Chrysler. SAS generates over 60% of its revenue in Europe, 31% in the Americas, and 9% in China. SAS' acquisition, which requires approval from the European Commission as well as merger control agencies in China, Brazil, Mexico, and the United States, is scheduled to close between July and September of this year, according to SAMIL. SAS employs over 5,000 workers across 12 countries in 24 manufacturing facilities. The company's enterprise value is €540 million. The deal will be financed through a combination of loans and internal accruals. The deal is still subject to information or consultation with employee representatives, stated SAMIL. Also Read India launches 1 indigenously developed ATS system for DMRC Yokohama to invest to expand production capacity in India

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Viaduct and Piers Work Completed: NHSRCL

The Mumbai-Ahmedabad bullet train project, India's first high-speed rail corridor, has reached significant construction milestones with more than 300 km of viaduct completed and ongoing progress on trackbed works.The National High Speed Rail Corporation (NHSRCL), the implementing agency for the project, reported that 304 km of viaduct and 388 km of pier work have been finished. Additionally, the construction of 14 river bridges, 7 steel bridges, and 5 prestressed concrete bridges has been completed.Trackbed construction is advancing steadily, with 163 km completed so far. The Vapi bullet train..

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Project Slab Casting Starts at Virar Station

The Mumbai-Ahmedabad Bullet Train Project has advanced with the commencement of casting the first slab at the Virar Bullet Train station. A total of nine slabs will be constructed at this level, which will serve as the foundation for track laying at the station.The Virar Bullet Train station is designed to have two levels—a concourse level and a rail level—extending to a total length of 425 meters.The first slab cast measures 50 meters in length and 35.32 meters in width, with an approximate thickness of 300 mm. This slab required 1,555 cubic meters of concrete.In recent developments, the ..

Next Story
Infrastructure Transport

Konkan Railway Plans Ro-Ro Train Service to Transport Cars

The Konkan Railway (KR) is considering the possibility of introducing a special roll-on/roll-off (Ro-Ro) train service for car transportation during the upcoming Ganapati festival, provided there is sufficient public demand. The operation of this service would require a minimum of 40 cars to be transported at once.Traditionally, the KR Ro-Ro service has been used for trucks, allowing vehicles to be transported along with their drivers. Over the past 15 months, the corporation secured projects worth Rs 31.50 billion through tendering and is currently executing works valued at Rs 40.87 billion.K..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?