Samvardhana Motherson International Private Limited (formerly Motherson Sumi Systems Limited) announced it has acquired 51% stake in Saddles International Automotive and Aviation Interiors Private Limited (SIAAIPL). SIAAIPL is engaged in manufacturing of premium upholstery for passenger vehicles applications.
According to the company’s exchange filing, “The Board of Directors of Samvardhana Motherson International Limited (formerly Motherson Sumi Systems Limited) (“the Company”) in its meeting held on January 27, 2023 has approved acquisition of 51% stake in Saddles International Automotive and Aviation Interiors Private Limited having registered office at 257/1-3, Bannerghatta Road, N S Palya, B T M Layout, Bangalore, Karnataka- 560076 (hereinafter referred to as “SIAAIPL”).”
“This acquisition will mark Company’s step towards diversification of its current business with its entry into upholstery space used for applications such as passenger vehicles seat covers, covers for gear knobs and wrapping of door panels, etc. thereby supporting Company’s vision of increasing content per car,” the statement said.
Motherson Group is a diversified global manufacturing specialist and one of the world’s largest and fastest-growing automotive suppliers for OEMs.
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