WCA September 2020

India Insight India

Insight

Change of name and structure at Motherson

INDIA’S Motherson Sumi Systems Ltd has announced that its domestic wiring harness business will become a separately listed company. As part of the new structure, Samvardhana Motherson International Ltd, the holding company, will be merged with the existing organisation, which will include the rest of the automotive component businesses. Once the new organisation structure has received approval from the regulatory authorities, Motherson Sumi Systems will be renamed Samvardhana Motherson International Limited. The new structure has long been a requirement of Sumitomo Wiring Systems, the joint venture partner. “The simplification of the group structure has been a long-standing request from our shareholders, and the proposed reorganisation is a step in that direction.

“The transaction helps create strong business platforms under the Motherson umbrella which will enhance stakeholder value for the long term,” said Vivek Chand Sehgal, chairman, Motherson Sumi Systems. The company said in a statement: “The demerger of the domestic wiring business will create the largest listed automotive wiring harness player in India, with [a] diversified and pan-India industrial footprint [and] strong customer relationships across OEMs.” Motherson Sumi Systems Ltd www.motherson.com Tell us YOUR news. . . To submit news for the India Insight section free of charge, email david@intras.co.uk or call direct on +44 1926 334137.

Bigstockphoto.com “Taj Mahal sunset silhouette in Agra, India” Photographer: David Evison

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Wire & Cable ASIA – November/December 2016 Septe ber/O tober 2020