Samvardhana Motherson Group to acquire mirror business of Ichikoh Industries

26 Sep 2022 , 09:05 AM

SMR Automotive Mirrors UK, United Kingdom (SMR UK), a 100% 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 100% equity share capital held by Ichikoh in Misato Industries Co., Japan and Ichikoh (Wuxi) Automotive Parts Co., China. SMRP BV is a material and 100% 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 R&D and manufacturing footprint, further strengthening groups relationship with Japanese OEMs. The transaction further strengthens the Groups presence in China. Powered by Capital Market – Live News