Samvardhana Motherson inaugurates wiring harness facility in Serbia; stock adds ~1%

9 Sep 2022 , 09:16 AM

Samvardhana Motherson Limited informed that Aleksandar Vui, President of Serbia, and V C Sehgal, Chairman of Motherson, inaugurated its new facility in Poarevac.

This is Motherson’s third location in Serbia, and it will produce wire harnesses for Daimler vehicles. The new plant will help Motherson service its commercial vehicle clients and will provide exciting job possibilities for over 1000 employees in the region.

The cutting-edge facility will help the wiring harness division’s global expansion goal. The emphasis will be on making this facility self-sufficient and offering complete system solutions.

The new facility will reinforce the company’s worldwide position as a leading automotive solutions supplier and a trusted long-term partner to its clients, allowing it to create employment and growth possibilities for future employees in the Poarevac area.

“I appreciate the Serbian government’s ongoing encouragement and am grateful for the assistance provided by Serbian authorities. We would also want to thank our consumers for their encouragement and assistance in the creation of the new plant,” stated V C Sehgal, Chairman, Motherson.

At around 9.18 AM, Samvardhana Motherson was trading at Rs124.45 up by 1.01% from its previous closing of Rs123.20 on the BSE.

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