WCA November 2014

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Wire & Cable ASIA – November/December 2014 46
❍ MSSL now has more than 45 plants related to the wire
harness business
$71m deal is done for
wiring harness company
AUTO component manufacturer Motherson Sumi Systems Ltd
(MSSL) has completed the transaction to acquire Stoneridge Inc’s
wiring harness business. The company said in a statement that,
with this acquisition, MSSL now has over 45 plants related to the
wiring harness business.
“The business has strong synergies with MSSL’s existing business,
products, customer segments and operations. Our endeavour
would be to add a lot of value in the customer experience, products
offered and services,” said V C Sehgal, group chairman.
MSSL signed an agreement on 27th May to acquire the wiring
harness business through asset purchase at a consideration of
$65.7 million, on a no-cash-no-debt basis. The total cash outlay of
$71.38 million includes an increase in working capital, cash and
bank balances subject to post-closing adjustments.
Included in the transaction are six manufacturing facilities located
in Portland, Indiana, USA; Chihuahua, Saltillo and Monclova in
Mexico; and an engineering and administrative centre located in
Warren, Ohio, USA.
Motherson Sumi Systems Ltd – India
Website:
India
Insight