Motherson Group has completed the acquisition of majority stake in Turkey-based Plast Met Group.
“With the successful closure of this acquisition, Motherson Group now has access to the significant Turkish automotive market,” a statement made by the group said.
Speaking on the development, Chairman of Motherson Group – Vivek Chaand Sehgal stated, “Our footprint in the strategically important market of Turkey gives us enhanced competitive advantage for our European customers. In house tooling capability in the region will give us better control on the cost and quality. This acquisition reaffirms our vision of being a globally preferred solutions provider.”
The Motherson Group is a globally operating supplier providing full system solutions to the automotive industry, from design, simulation and prototyping to tooling, moulding, painting and final assembly of highly integrated modules.
The group was founded in 1975 and its business portfolio comprises a broad range of products for all large car manufacturers worldwide such as cockpits, bumpers covers, rearview mirrors, camera systems, lighting systems, decorative interior and exterior trims, wiring systems, air management systems and off-highway vehicle cabins.
Furthermore, Motherson produces refrigeration systems, machined and sintered metal parts, elastomer parts, cutting tools, thin-film coating metals and injection moulding tools and provides comprehensive IT and design engineering services to various industry segments. The Motherson Group claims to be one of the 22 largest automotive suppliers worldwide, employing over 135.000 people in more than 270 locations in 41 countries across five continents.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.