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Motherson Sumi Systems Ltd

BSE: 517334 | NSE: MOTHERSUMI ISIN: INE775A01035
Market Cap: [Rs.Cr.] 38,766.97 Face Value: [Rs.] 1
Industry: Auto Ancillaries

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Company Profile

Motherson Sumi Systems Ltd is a world-class supplier of high performance components, modules and systems. The company is the largest supplier of EDS to the Indian automotive industry. They offer a range of products in the fields of electrical distribution systems, plastic molding, elastomers processing, tooling, metal machining, automotive rear view mirrors and integrated modules. They also provide a range of services from design to manufacturing, supplies to logistics to its customers in India and abroad. The company as a supply partner provides complete solutions to their customers right from product design to mass supplies. They have developed a network of manufacturing bases, design centres, logistics centres, marketing support and sourcing hubs across a diversified geographical base. The company has their presence in 20 countries which include India (Noida, Gurgaon, Faridabad, Manesar, Pune, Lucknow, Bangalore, Chennai, Kandla, & Pondicherry), UAE, Sri Lanka, Singapore, China, Korea, Japan, Germany, UK, Czech Republic, Austria, Hungary, Italy, Spain, France, Ireland, USA, Mexico, Australia & Mauritius to provide timely and quality delivery to our customers worldwide. Motherson Sumi Systems Ltd was incorporated in the year 1986 as a joint venture between Samvardhana Motherson Finance Limited (SMFL, Sumitomo Wiring Systems (SWS), Japan and Sojitz Corporation, Japan (formerly Nissho Iwai Corporation). The company was incorporated with the objective of manufacturing integrated wiring harnesses wires high tension cords and components for integrated wiring harnesses including plastic and metal parts. In the year 1989, the company commenced manufacturing wiring harness components and plastic parts as a backward integration. In the year 1991, the company through their joint venture, Motherson Pudenz Wickmann Ltd commenced manufacturing fuses as a backward integration. In the year 1993, the company launched wire division, namely Motherson Sumi Electric Wires. In October 1995, the company in collaboration with Kromberg and Schubert AG Germany and formed Kromberg Schubert Motherson Sumi Systems Pvt Ltd for the manufacture of integrated wiring harnesses, which is supplied to Mercedes Berz-Telco joint venture & BMW-Hero Motors joint venture for 650 cc motor cycles. In December 2005, they incorporated Britax Motherson Pvt Ltd in technical and financial collaboration with Britax International UK for manufacture of Auto Mirrors. In the year 1997, the company formed a joint venture namely Kyungshin Industrial Motherson Ltd for manufacturing wiring harness for Hyundai. The company's joint venture, BR Motherson Automotive Pvt Ltd set up a plant for manufacturing Blow Moulded Auto Components and Door Panels. Also, Motherson Auto Components Engineering Ltd, Motherson Pudenz Fuses Ltd and Motherson Global Pte Ltd Singapore became the subsidiaries of the company during the year. In the year 1998, the company made a technical agreement with WOCO and commissioned manufacturing of rubber component. In the year 1999, the company established a representative office in Austria and in the next year, they established another representative office in Singapore. In the year 2001, the company commissioned the silicon rubber moulding facility in their first overseas manufacturing base in Sharjah. Motherson Automotive Technologies & Engineering and Motherson Sumi Electric Wires were amalgamated with the company during the year. In the year 2002, the company set up MSSL Ireland Pvt Ltd in Ireland. Also, they established MSSL Mideast (FZE) in Sharjah (UAE). In the year 2003, they established a representative office in UK. During the year 2003-04, the company set up 100% subsidiaries, namely Motherson Electrical Wires Lanka Pvt Ltd in Sri Lanka for manufacturing of wires and MSSL Handels GmbH in Austria. Also, the company in association with Hag Kunststofftechnik GmbH set up a subsidiary, namely MSSL Hag Toolings Ltd in SAIF Zone, Sharjah. In March 2004, the company set up 100% subsidiary, namely MSSL (S) Pte Ltd in Singapore. The activities relating to the representative office of Singapore are being transferred to this subsidiary. In March 2004, the company entered into a joint venture agreement with WOCO Franz Josef Wolf Holding GmbH & WOCO Industrieteknik GmbH and established a company namely WOCO Motherson Elastomer Ltd. The company transferred their Elastomer business to the joint venture company as a going concern with effect from June 1, 2004. During the year 2004-05, the company expanded their Noida facilities with a new dedicated unit for exports. They started a new unit at Chennai to cater to the requirements of Hyundai Motors and for exports to GM Holden, Australia. Also, the company established a representative office in Germany. During the year 2005-06, Motherson Advance Polymers Ltd and Balda Motherson Info Devices Ltd became 100% subsidiaries of the company. In August 2005, the company acquired G&S Kunststofftechnik GmbH, Germany to consolidate their polymer business. In January 2006, the company's joint venture subsidiary Global Environment Management (FZC) set up a 100% subsidiary, Global Environment Management Australia Pty Ltd, Australia. During the year, Draexlmaier & Motherson Electrical Systems (I) Ltd, a 100% subsidiary of the company was amalgamated with the company with effect from April 1, 2005. Also, WOCO Motherson Elastomer Ltd and WOCO Motherson Advanced Rubber Technologies Ltd ceased to be subsidiaries of the company. During the year 2006-07, Motherson Advance Polymers Ltd, a 100% subsidiary of the company merged with the company with effect from February 1, 2006. In August 2006, the company purchased the business and assets of ASL Systems Ltd through their 100% subsidiary, MSSL GB Ltd. In October 2006, they incorporated MSSL Australia Pty Ltd. In November 2006, the company acquired a plastic injection molding company FP Formagrau s.r.o., in Czech Republic. In February 2007, they incorporated two subsidiaries namely Motherson Elastomers Pty Ltd and Motherson Investments Pty Ltd through MSSL Australia Pty Ltd. These two subsidiaries acquired the business and assets of Empire Rubber in Australia from Huon Corporation Pty Ltd, which was engaged in rubber mixing and manufacture of rubber extruded components. During the year 2007-08, MSSL GmbH, the company's wholly owned subsidiary through MSSL Mideast (FZE) entered into an agreement with Dremotec GmbH & Co KG and Sirius Invest AG and incorporated another subsidiary Motherson Orca Precision Technology GmbH. Subsequently, the business of Mothersonsumi Reiner GmbH (100% subsidiary of MSSL GmbH) was transferred to the newly incorporated entity with effect from January 01, 2008. Also, they established a representative office in Italy during the year. During the year 2007-08, the company set up two new plants in Noida and Pune to meet the requirements of domestic and export market. They increased the extraction capacity of Motherson Sumi Electrical Wires, Bangalore from 18,000 km to 26,000 km per month. In March 6, 2009, the company's subsidiary Samvardhana Motherson Visiocorp Solution Ltd acquired the Rear View Mirror business of Visiocorp Plc. Samvardhana Motherson Global Holdings Ltd, a joint venture between the company and Samvardhana Motherson Finance Ltd holds 95% equity in Samvardhana Motherson Visiocorp Solution Ltd. With this acquisition, Samvardhana Motherson Group became one of the largest manufactures of automotive mirrors in the world. The company is in the process of setting up a new plant for export of wiring harness at Kandla. Also, the company will be setting up a unit at Chennai for the future upcoming project of Nissan during the year 2009-10.

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Key Information

Key Executives:

Vivek Chaand Sehgal , Chairman

Toshimi Shirakawa , Director

Arjun Puri , Director

Pankaj K Mital , Whole Time Director & COO

Company Head Office / Quarters:

2nd Floor F-7 Block B-1,
Mohan Co-operative Indl Estate,
New Delhi,
New Delhi-110044
Phone : New Delhi-91-011-40555940 / New Delhi-
Fax : New Delhi-91-011-40555940 / New Delhi-
E-mail : investorrelations@motherson.com
Web : http://www.motherson.com


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