+
Samvardhana Motherson arm to acquire Cirma SAS
ECONOMY & POLICY

Samvardhana Motherson arm to acquire Cirma SAS

Auto components maker Samvardhana Motherson International said its arm Samvardhana Motherson Automotive Systems Group BV will fully acquire French entity Cirma Entreprise SAS at an enterprise value of 7.2 million euros (nearly Rs 65 crore). Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has signed a binding undertaking to acquire a 100% stake in Cirma Entreprise from Vinci Energies France.

Cirma and Entreprise is into aerospace, shipbuilding allied industries. The cost of acquisition is pegged at an enterprise value of 7.2 million euros, it added.

On the rationale behind the acquisition, the company said Motherson will become a Tier 1 to Aerospace Original Equipment Manufacturer and proximity to OEM would open further avenues for growth. Also, it will help in diversification to electrical wiring and interconnect systems for aerospace, shipbuilding and other allied industries from an existing portfolio of aero structure components, machining etc, it added.

The acquisition is also aligned with the growth strategy and synergistic with the existing wiring harness capabilities of Motherson, and this transaction will also help the company in gaining access to the shipbuilding and allied industries, the filing said.

Auto components maker Samvardhana Motherson International said its arm Samvardhana Motherson Automotive Systems Group BV will fully acquire French entity Cirma Entreprise SAS at an enterprise value of 7.2 million euros (nearly Rs 65 crore). Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has signed a binding undertaking to acquire a 100% stake in Cirma Entreprise from Vinci Energies France.Cirma and Entreprise is into aerospace, shipbuilding allied industries. The cost of acquisition is pegged at an enterprise value of 7.2 million euros, it added.On the rationale behind the acquisition, the company said Motherson will become a Tier 1 to Aerospace Original Equipment Manufacturer and proximity to OEM would open further avenues for growth. Also, it will help in diversification to electrical wiring and interconnect systems for aerospace, shipbuilding and other allied industries from an existing portfolio of aero structure components, machining etc, it added.The acquisition is also aligned with the growth strategy and synergistic with the existing wiring harness capabilities of Motherson, and this transaction will also help the company in gaining access to the shipbuilding and allied industries, the filing said.

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code