Samvardhana Motherson

In 1975, Vivek Chaand Sehgal and his mother established the Motherson Group as a silver trading business.{{cite news |title=How VC Sehgal drove Motherson Sumi to become India's largest auto component maker |url=https://www.businesstoday.in/specials/best-ceos-of-india-2013/story/india-best-ceo-2013-auto-ancillaries-vc-sehgal-motherson-sumi-42616-2013-12-23 |access-date=23 September 2022 |work=Business Today |date=23 December 2013 |language=en}} Two years later, Sehgal set up a power cables factory.{{cite news |last1=Bhupta |first1=Malini |title=The acquisition machine |url=https://www.business-standard.com/article/companies/the-acquisition-machine-116021000050_1.html |access-date=23 September 2022 |work=www.business-standard.com |date=10 February 2016 |language=en}} A collaboration with Tokai Electric Co. (now Sumitomo Wiring Systems) in 1983 led to the incorporation of Motherson Sumi Systems in 1986, primarily as a wiring harness manufacturer for Maruti Udyog. The company was listed in 1993 on BSE and subsequently on NSE.

File:Peguform (Bötzingen) 4602.jpg, Germany.]]

File:SMR Hungary, 2017 Mosonmagyaróvár.jpg, Hungary.]]

File:PKC Kempele 2007 07 11.JPG, Finland.]]

Motherson Sumi Systems went on to acquire several companies, the first being in 2002 when it acquired the assets of the bankrupt Irish company Wexford Electronics, a manufacturer of wiring harnesses for material handling and earthmoving equipment. In 2006, it purchased the Australian company Empire Rubber.{{cite news|title= Motherson acquires Empire Rubber |publisher=Business Line|access-date=31 January 2012|url=http://www.thehindubusinessline.com/todays-paper/tp-corporate/article1658330.ece?ref=archive}} In 2009, it acquired the global rearview mirror business of the world's largest rearview mirror maker {{ill|Visiocorp|de|SMR – Samvardhana Motherson Reflectec}} (now renamed as Samvardhana Motherson Reflectec).{{cite news |title=Motherson Sumi buys auto rearview mirror maker Visiocorp for $31.6 mln |url=https://www.reuters.com/article/idINIndia-38430120090310 |access-date=23 September 2022 |work=Reuters |date=10 March 2009 |language=en}}{{cite news|title= Motherson acquires Visiocorp PLC|publisher=DNA|access-date=31 January 2012|url=http://www.dnaindia.com/money/report_motherson-sumi-systems-to-acquire-visiocorp-plc-uk_1218367}} In 2011, it acquired the German interior and exterior polymer modules maker {{ill|Peguform|de|Samvardhana Motherson Peguform}} (now named Samvardhana Motherson Peguform).{{cite news |title=Motherson Sumi acquires 80% stake in German co Peguform |url=https://www.thehindubusinessline.com/companies/motherson-sumi-acquires-80-stake-in-german-co-peguform/article20307042.ece1 |access-date=23 September 2022 |work=www.thehindubusinessline.com |date=13 July 2011 |language=en}}{{cite news|title= Motherson acquires Peguform |publisher=Economic Times|access-date=31 January 2012|url=http://articles.economictimes.indiatimes.com/2011-07-14/news/29773464_1_samvardhana-motherson-finance-germany-s-peguform-group-motherson-sumi-systems|archive-url=https://archive.today/20130103120619/http://articles.economictimes.indiatimes.com/2011-07-14/news/29773464_1_samvardhana-motherson-finance-germany-s-peguform-group-motherson-sumi-systems|url-status=dead|archive-date=3 January 2013}}

In 2014, it bought the wiring harness business of Stoneridge Inc for $65.7 million.{{cite news |last1=Chauhan |first1=Chanchal Pal |title=Motherson Sumi Systems Ltd to buy Stoneridge Inc's wiring business for $65.7 million |url=https://economictimes.indiatimes.com/motherson-sumi-systems-ltd-to-buy-stoneridge-incs-wiring-business-for-65-7-million/articleshow/35626768.cms |access-date=23 September 2022 |work=The Economic Times}} This was followed by the acquisition of Finnish electrical distribution systems manufacturer {{ill|PKC Group|fi}} in 2017 for $619 million,{{cite news |title=India's Motherson Sumi buys Finland's PKC Group for $619 million |url=https://www.reuters.com/article/us-pkc-group-m-a-mothersonsumi-idUSKBN16Y0D5 |access-date=15 October 2022 |work=Reuters |date=27 March 2017 |language=en}} French interior components maker Reydel Automotives (now named Samvardhana Motherson Reydel Companies) in 2018 for $201 million,{{cite news |last1=Ghosh |first1=Malyaban |title=Motherson Sumi buys Reydel Automotive for $201 million |url=https://www.livemint.com/Companies/lFg6D3qjWGIAtPVrLS6NYJ/Motherson-Sumi-buys-Reydel-Automotive-for-201-million.html |access-date=23 September 2022 |work=mint |date=3 April 2018 |language=en}}{{cite web |title=Vivek Chaand Sehgal: Man of many parts |url=http://www.forbesindia.com/article/leadership-awards-2018/vivek-chaand-sehgal-man-of-many-parts/51843/1 |website=Forbes India |access-date=15 September 2019 |language=en |date=2018}} and Bombardier Transportation's UK electrical component and systems business in 2019.{{Cite web|url=https://auto.economictimes.indiatimes.com/news/auto-components/motherson-sumi-acquires-bombardiers-uk-electrical-components-systems/68207315|title=Acquisition of Bombardier's Rolling Stock Business|website=indiatimes.com}}

In 2020, the domestic wiring harness business was restructured under a newly-incorporated, wholly-owned subsidiary of Motherson Sumi Systems called Motherson Sumi Wiring India Limited (MSWIL).{{cite news |last1=Ghosh |first1=Malyaban |title=Motherson Sumi announces new organizational restructuring |url=https://www.livemint.com/companies/news/motherson-sumi-announces-new-organizational-restructuring-wiring-business-to-become-separate-entity-11593709584234.html |access-date=23 September 2022 |work=mint |date=2 July 2020 |language=en}} MSWIL was subsequently demerged and became a listed company in 2022.{{cite news |last1=Nahar |first1=Pawan |title=Motherson Sumi Wiring shares list after demerger, rise 5% |url=https://economictimes.indiatimes.com/markets/stocks/news/motherson-sumi-wiring-shares-list-after-demerger-rise-5/articleshow/90486880.cms |access-date=23 September 2022 |work=The Economic Times}} At the time of its listing, Samvardhana Motherson International held a 33.4% stake in MSWIL, while 25.3% was held by Sumitomo Wiring Systems, 3% by Sehgal family and the rest by public investors.{{cite news |title=Motherson Sumi Wiring India |url=https://images.assettype.com/bloombergquint/2022-03/c7a4b1da-010d-429c-9de9-384fc8dbc66e/Motilal_Oswal_Motherson_Sumi_Wiring_India_Company_Update.pdf |access-date=23 September 2022 |work=Motilal Oswal |publisher=Bloomberg Quint}}

After this demerger, the holding company of the group Samvardhana Motherson International Limited, which held stakes in Motherson Sumi Systems and the unlisted global components maker Samvardhana Motherson Automotive Components Group BV (SMRPBV), was merged into Motherson Sumi Systems; the merged entity was renamed as Samvardhana Motherson International Limited. After the merger, Sehgal family held a 50.4% majority stake in the merged entity followed by Sumitomo Wiring Systems at 17.7%.{{cite news |last1=Mudgill |first1=Amit |title=Motherson Sumi okays business rejig; what's in it for minority shareholders? |url=https://economictimes.indiatimes.com/markets/stocks/news/motherson-sumi-okays-business-rejig-whats-in-it-for-minority-shareholders/articleshow/76766864.cms |access-date=23 September 2022 |work=The Economic Times}}

In 2022, the company acquired Ichikoh's mirror manufacturing division for {{JPYConvert|5.2|b}}.{{cite news |title=Samvardhana Motherson Automotive to acquire mirror business of Japan's Ichikoh Industries |url=https://economictimes.indiatimes.com/industry/auto/auto-components/samvardhana-motherson-automotive-to-acquire-mirror-business-of-japans-ichikoh-industries/articleshow/94445907.cms |access-date=13 October 2022 |work=The Economic Times}} Samvardhana Motherson's notable acquisitions in 2023 include 51% stake in Saddles International, an Indian automotive upholstery company, for {{INRConvert|207|c}};{{cite news |last1=Bhalerao |first1=Mayur |title=Samvardhana Motherson to buy 51% stake in Saddles International for ₹207 cr |url=https://www.livemint.com/companies/news/samvardhana-motherson-to-buy-51-stake-in-saddles-international-for-rs-207-cr-11674819385369.html |access-date=8 February 2023 |work=mint |date=27 January 2023 |language=en}} 100% of SAS Autosystemtechnik, a German automotive cockpit manufacturer, from Faurecia at an enterprise value of €540 million;{{cite news |title=Samvardhana Motherson's subsidiary acquires 100% stake in SAS Autosystemtechnik |url=https://www.livemint.com/companies/news/samvardhana-motherson-s-subsidiary-acquires-100-stake-in-sas-autosystemtechnik-11676823682320.html |access-date=13 March 2023 |work=mint |date=19 February 2023 |language=en}} 81% stake in the four-wheeler business of {{ill|Yachiyo Industry|ja|八千代工業}}, a Honda Group company, for {{JPYConvert|22.9|b}};{{cite news |title=India's Samvardhana Motherson to buy majority stake in Honda's unit |url=https://www.reuters.com/markets/deals/indias-samvardhana-motherson-buy-majority-stake-hondas-unit-2023-07-04/ |access-date=5 July 2023 |work=Reuters |date=5 July 2023 |language=en}} and the insolvent German automotive supplier {{ill|Dr. Schneider Group|de|Dr. Schneider Unternehmensgruppe}} for €118.3 million.{{cite news |title=India's Samvardhana Motherson buys Germany's Dr. Schneider for $132 million |url=https://www.reuters.com/markets/deals/indias-samvardhana-motherson-buys-germanys-drschneider-132-mln-2023-07-24/ |access-date=27 November 2023 |work=Reuters |date=24 July 2023 |language=en}}

The products manufactured by Samvardhana Motherson Group comprises wiring harnesses (electrical distribution systems), rearview mirrors, moulded plastic parts including car interior and exterior parts, bumpers, dashboards and door trims, complete polymer modules, rubber components for automotive and industrial applications, high precision machined metal parts and injection moulding tools.{{Cite web|url=https://www.timesnownews.com/videos/et-now/financial-reports/we-have-all-the-ingredients-which-say-people-are-choosing-the-right-car-motherson-sumi-co-founder/32882|title='We have all the ingredients which say people are choosing the right car', Motherson Sumi Co-Founder|date=28 May 2019|website=www.timesnownews.com|language=en-GB|access-date=14 September 2019}}

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Category:Auto parts suppliers of India

Category:Manufacturing companies based in Noida

Category:Companies established in 1986

Category:1986 establishments in Uttar Pradesh

Category:Indian companies established in 1986

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Category:Companies listed on the Bombay Stock Exchange