Samvardhana Motherson Group to acquire mirror business of Ichikoh Industries

29 Sep 2022 , 01:34 AM

SMR Automotive Mirrors UK United Kingdom SMR UK a 100Percentage step down subsidiary of Samvardhana Motherson Automotive Systems Group BV Netherlands SMRP BV has entered into a Share Purchase Agreement Agreement with Ichikoh Industries Japan Ichikoh for the acquisition of 100Percentage equity share capital held by Ichikoh in Misato Industries Co Japan and Ichikoh Wuxi Automotive Parts Co China SMRP BV is a material and 100Percentage subsidiary of Samvardhana Motherson International formerly Motherson Sumi Systems The closing of the transaction is subject to completion of customary conditions precedent and expected to be completed in next 6 six to 8 eight months The completion of this transaction will provide Samvardhana Motherson Group with strong local RD and manufacturing footprint further strengthening groups relationship with Japanese OEMs The transaction further strengthens the Groups presence in China