Motherson Sumi Wiring India Ltd Overview
Fundamentals of Motherson Sumi Wiring India Ltd
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Financials of Motherson Sumi Wiring India Ltd
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About Motherson Sumi Wiring India Ltd
The Company was incorporated a Public Limited Company on December 19, 1986 in Mumbai, Maharashtra. The Company is a specialized, full-system solutions provider catering to a diverse range of customers ... in the automotive and other industries. The Company is engaged primarily in the manufacture and sale of components to automotive original equipment manufacturers As a flagship company of the Motherson Group, the Company has over 230 facilities across 41 countries and five continents. This global footprint allows the Company to provide robust and scalable product support to customers worldwide. Headquartered in Noida, India, and employing approximately 40000 people, the Company operates through its 23 facilities consisting of manufacturing and assembly sites and technical centres across India. The Company is a joint venture entity between Samvardhana Motherson International Limited (SAMIL) and Sumitomo Wiring Systems Limited, Japan, a global leader in the manufacture of wiring harnesses, harness components and other electric wires. The Board of Directors of Company at its meeting held on July 2, 2020, approved the composite Scheme of Amalgamation and Arrangement amongst, Samvardhana Motherson International Limited (the Amalgamated Company) and Motherson Sumi Wiring India Limited (the Resulting Company) and their respective shareholders and creditors. The Scheme, inter-alia, provides to demerge the Domestic Wiring Harness (DWH) Undertaking into the Resulting Company and amalgamate the Amalgamating Company with the Company, by absorption, subsequent to completion of the demerger. Further, the Scheme is subject to receipt of necessary Statutory and Regulatory approvals under applicable laws including but not limited to approval of BSE Limited and National Stock Exchange of India Limited, approval of requisite majority of the shareholders and creditors of the Company and Hon'ble National Company Law Tribunal, Mumbai Bench (Hon'ble NCLT). The Shareholders of the Company at their meeting convened and held pursuant to the Order of the Hon'ble NCLT on April 29, 2021 had considered and approved the Scheme. The addition of the PKC Group in 2017 resulted in a substantial expansion into the American and European commercial vehicle markets, a development that helped MSSL become a stronger player within the global transportation market. This increase in MSSL's worldwide presence has enabled customers to access a broader range of solutions and support as well as the benefits of global synergies, vertical integration, innovation and new technologies. The acquisition of Bombardier's UK rolling stock electrical-component and systems business and Bombardier's Electrical Wiring Interconnection Systems (EWIS) business in Huehuetoca, Mexico, has helped MSSL to supply electrical and wiring systems to a bigger segment of the rolling stock industry, bolstering the confidence of partners and customers. In 2018, MSSL acquired France headquartered, Reydel Group, subsequently becoming Samvardhana Motherson Reydel Companies (SMRC). The outcome has been very positive: the complementarily of the product lines and expanded global footprint have resulted in closer relations with customers, especially with the French OEMs, which promise future product development, innovation and growth. From the shop floor to the boardroom, the Company has always been committed to meeting the needs of customers. As part of this commitment, the Company Promoters have adopted a research-oriented approach to developing new and innovative technologies for both established and fast-growing markets, making MSSL a leader in the industries through which it operates. The Company is also deeply invested in best business practices like, by blending design, infrastructure and technology, MSSL aims to efficiently and sustainably expand its product line and reach across industries. The facilities of SMIIEL, Noida; Motherson Sumi Systems Limited (MSSL), Bengaluru and Motherson Innovative Engineering Solutions (MINES), Bengaluru have already completed AS9100D certification. Motherson Wiring Systems Inc. (MWSI), Portland, is in the process of attaining certification. Motherson Automotive Elastomers Technology (MAET) in Chennai has already won several orders from ISRO and a private Indian space company. Read More
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