Motherson Sumi Systems’ (MSSL) Board has approved a Group reorganization plan with the objective of creating value for the shareholders. According to the company, the reorganisation realigns interests of all its stakeholders and creates a simplified corporate structure for growth of businesses across product portfolios within auto components space and allied operations. The reorganisation plan was approved by the boards of MSSL and Samvardhana Motherson International. The meeting of Board of directors of the company held on July 02, 2020.
Among other things, it entails demerger of Domestic Wiring Harness business from MSSL into a new company which is in the process of being incorporated as a wholly owned subsidiary of MSSL and subsequent merger of SAMIL into MSSL to consolidate 100% shareholding in Samvardhana Motherson Automotive Systems Group BV as well as to bring all auto component an d allied businesses in SAMIL under MSSL.
Motherson Sumi Systems, including its subsidiaries and JVs is one of the leading manufacturer of automotive wiring harnesses, mirrors for passenger cars and a leading supplier of plastic components and modules to the automotive industry.
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 125.00 |
| Tube Investments | 2789.65 |
| Bosch | 37505.60 |
| UNO Minda | 1097.30 |
| CIE Automotive India | 490.15 |
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