Auto component maker Motherson Sumi Systems today said that it has completed the acquisition of interior components and modules manufacturer Reydel Automotive Group (Reydel) for USD 201 million (over Rs 1,300 crore).
Motherson Sumi Systems (MSSL), flagship company of the Samvardhana Motherson Group (SMG), said this acquisition through its step down subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRP BV) will bolster its offerings in the automotive interiors space.
“SMRP BV has completed acquisition of Reydel Automotive Holdings BV and Reydel Automotive Management BV on August 2, 2018, at Amsterdam upon receipt of all acquisition related approvals,” Motherson Sumi Systems said in a regulatory filing.
Reydels interiors product portfolio includes instrument panels, door panels, console modules, decorative parts and cockpit modules.
The company’s global presence spans 20 plants and 16 countries, and is supported by a workforce of around 5,500 associates.
Reydel’s revenue for the year ended December 31, 2017, stood at USD 1,050 million.
Shares of MSSL were trading 1.10 per cent up at Rs 307.60 apiece on the BSE.