Samvardhana Motherson International has completed acquisition of additional 30% stake of Youngshin Motherson Auto Tech (YMAT) from Youngshin Components, Korea, on June 2, 2023. With this transaction, the company will hold 80% of equity share capital of YMAT and accordingly YMAT will become subsidiary of the company. Earlier, the Board of Directors of the company at their meeting held on April 17, 2023, approved the acquisition.
Samvardhana Motherson International is one of the world’s leading specialized automotive component manufacturing companies for OEMs. The company, formerly known as Motherson Sumi Systems was established in 1986 as a joint venture with Sumitomo Wiring Systems.
