A share purchase agreement was signed between SMR Automotive Mirrors UK and Ichikoh Indusries, Japan, for the 100% equity share capital acquisition owned by Ichikoh in Misato Industries Co., Japan, and Ichikoh (Wuxi) Automotive Parts Co., China.
The customary procedures and compliances of the acquisition process are expected to be completed within six to eight months.
This acquisition at an enterprise value of approximately JPY 5.2 billion, will offer a good boost to Samvardhana Motherson Group with the indigenous research and development with the manufacturing impact, in turn empowering the groups’ bonding with Japanese Original Equipment Manufacturers (OEM). Samvardhana Motherson Group looks forward to strengthening its presence in China with this acquisition.
The increased share of Japanese OEMs in the Vision system portfolio will create additional growth opportunities for the division in the future. The group will add three manufacturing plants in China and Japan with 260 patents in its IP portfolio. Motherson Group has already set up two manufacturing plants in Hamamatsu, Japan in July this year.
